AlphaQuest LLC Has $1.02 Million Stock Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• AlphaQuest LLC significantly increased its holdings in Mirum Pharmaceuticals by 1,134.6%, purchasing an additional 20,751 shares, bringing its total ownership to 22,580 shares valued at approximately $1,017,000.
• Mirum Pharmaceuticals reported a revenue of $127.79 million for the most recent quarter, surpassing the consensus estimate and reflecting a 64.1% year-over-year increase in revenue.
• Multiple analysts have upgraded Mirum Pharmaceuticals, with Evercore ISI raising its price target to $89.00 and others maintaining an overall "buy" rating for the stock, indicating strong investor interest.

AlphaQuest LLC lifted its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 1,134.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,580 shares of the company's stock after buying an additional 20,751 shares during the period. AlphaQuest LLC's holdings in Mirum Pharmaceuticals were worth $1,017,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MIRM. Nuveen LLC bought a new stake in Mirum Pharmaceuticals during the 1st quarter worth approximately $29,495,000. Federated Hermes Inc. grew its position in Mirum Pharmaceuticals by 9,440.4% during the 1st quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock worth $15,649,000 after acquiring an additional 343,725 shares during the last quarter. Nuveen Asset Management LLC grew its position in Mirum Pharmaceuticals by 46.7% during the 4th quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock worth $29,861,000 after acquiring an additional 229,746 shares during the last quarter. Russell Investments Group Ltd. grew its position in Mirum Pharmaceuticals by 783.9% during the 1st quarter. Russell Investments Group Ltd. now owns 229,449 shares of the company's stock worth $10,337,000 after acquiring an additional 203,489 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Mirum Pharmaceuticals by 101.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,276 shares of the company's stock worth $16,050,000 after acquiring an additional 179,316 shares during the last quarter.

Mirum Pharmaceuticals Stock Up 1.2%

Shares of MIRM traded up $0.88 during midday trading on Thursday, hitting $75.53. The stock had a trading volume of 1,657,661 shares, compared to its average volume of 519,043. The company has a 50 day simple moving average of $56.19 and a two-hundred day simple moving average of $48.90. Mirum Pharmaceuticals, Inc. has a twelve month low of $36.86 and a twelve month high of $75.63. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of -62.42 and a beta of 0.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The firm had revenue of $127.79 million for the quarter, compared to the consensus estimate of $107.91 million. During the same quarter last year, the business posted ($0.52) EPS. The company's revenue for the quarter was up 64.1% on a year-over-year basis. On average, analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Analyst Ratings Changes

MIRM has been the topic of a number of recent research reports. JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Evercore ISI increased their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Wall Street Zen lowered Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday. Finally, HC Wainwright increased their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, Mirum Pharmaceuticals has an average rating of "Buy" and an average target price of $74.13.

Insider Activity

In related news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the senior vice president owned 2,426 shares of the company's stock, valued at approximately $140,708. The trade was a 80.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the sale, the chief executive officer directly owned 138,641 shares in the company, valued at approximately $8,595,742. This represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,041 shares of company stock worth $5,320,624 in the last three months. Company insiders own 14.36% of the company's stock.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.