Algert Global LLC Invests $3.94 Million in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Algert Global acquired a new $3.94 million stake in Mirum Pharmaceuticals during the second quarter, purchasing 33,700 shares and holding approximately 0.05% of the company.
• Institutional interest remains strong, with Janus Henderson, BlackRock, Vanguard, State Street and T. Rowe Price among major holders increasing or initiating positions. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $137.31.
• Mirum reported quarterly revenue of $176.24 million, up 37.9% year over year and above estimates, but posted an adjusted loss of $1.06 per share that missed expectations. Shares opened at $99.75, while executives have sold more than $13.7 million of stock over the past 90 days.

Algert Global LLC acquired a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,700 shares of the company's stock, valued at approximately $3,945,000. Algert Global LLC owned approximately 0.05% of Mirum Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MIRM. Janus Henderson Group PLC lifted its holdings in shares of Mirum Pharmaceuticals by 14.5% in the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock valued at $641,764,000 after purchasing an additional 880,505 shares during the last quarter. BlackRock Inc. acquired a new position in Mirum Pharmaceuticals during the second quarter worth approximately $513,945,000. Vanguard Group Inc. increased its position in Mirum Pharmaceuticals by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company's stock worth $205,065,000 after buying an additional 50,720 shares during the period. State Street Corp increased its position in Mirum Pharmaceuticals by 59.2% during the fourth quarter. State Street Corp now owns 2,143,992 shares of the company's stock worth $169,354,000 after buying an additional 797,088 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Mirum Pharmaceuticals by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company's stock valued at $112,196,000 after buying an additional 137,087 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MIRM shares. Evercore restated an "outperform" rating and set a $138.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. HC Wainwright dropped their price objective on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Citigroup restated a "market outperform" rating on shares of Mirum Pharmaceuticals in a research report on Thursday. Wolfe Research assumed coverage on Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an "outperform" rating and a $145.00 price objective for the company. Finally, Robert W. Baird set a $123.00 price objective on Mirum Pharmaceuticals in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $137.31.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $99.75 on Friday. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The company has a market capitalization of $6.48 billion, a P/E ratio of -6.86 and a beta of 0.52. The business has a 50 day moving average price of $110.82 and a 200 day moving average price of $101.82. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The firm had revenue of $176.24 million during the quarter, compared to analyst estimates of $166.33 million. During the same period last year, the company posted ($0.12) EPS. The firm's revenue for the quarter was up 37.9% on a year-over-year basis. Sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Christopher Peetz sold 20,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $98.92, for a total transaction of $1,978,400.00. Following the completion of the transaction, the chief executive officer owned 194,309 shares of the company's stock, valued at $19,221,046.28. This represents a 9.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the transaction, the senior vice president directly owned 1,274 shares of the company's stock, valued at approximately $127,400. This represents a 96.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 133,156 shares of company stock worth $13,763,562. 8.32% of the stock is owned by insiders.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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