AMI Asset Management Corp Purchases Shares of 8,859 Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• AMI Asset Management opened a new position in Mirum Pharmaceuticals in Q1, buying 8,859 shares worth about $818,000.
• Several other institutional investors also increased their stakes, including Janus Henderson, Vanguard, and State Street, signaling continued institutional interest in the stock.
• Insiders have recently sold shares, including CEO Christopher Peetz and SVP Jolanda Howe, even as analysts maintain a generally positive outlook with a Moderate Buy consensus and a price target of $139.80.

AMI Asset Management Corp acquired a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,859 shares of the company's stock, valued at approximately $818,000.

A number of other institutional investors also recently made changes to their positions in the business. Janus Henderson Group PLC increased its holdings in shares of Mirum Pharmaceuticals by 21.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company's stock worth $479,050,000 after buying an additional 1,067,722 shares during the period. Vanguard Group Inc. boosted its holdings in Mirum Pharmaceuticals by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company's stock valued at $205,065,000 after acquiring an additional 50,720 shares during the period. State Street Corp grew its position in Mirum Pharmaceuticals by 59.2% during the 4th quarter. State Street Corp now owns 2,143,992 shares of the company's stock worth $169,354,000 after acquiring an additional 797,088 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Mirum Pharmaceuticals by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company's stock worth $112,196,000 after acquiring an additional 137,087 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Mirum Pharmaceuticals by 56.6% in the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company's stock worth $97,776,000 after purchasing an additional 447,141 shares during the period.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,594 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $101.95, for a total transaction of $264,458.30. Following the completion of the transaction, the senior vice president owned 5,835 shares of the company's stock, valued at approximately $594,878.25. This trade represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $18,622,574.56. This trade represents a 13.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,594 shares of company stock valued at $3,608,758 over the last ninety days. Company insiders own 8.32% of the company's stock.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $123.00 on Tuesday. The stock has a market cap of $7.50 billion, a P/E ratio of -9.04 and a beta of 0.50. The firm's fifty day simple moving average is $101.05 and its 200 day simple moving average is $94.37. Mirum Pharmaceuticals, Inc. has a twelve month low of $47.89 and a twelve month high of $125.39. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The company had revenue of $159.88 million during the quarter, compared to the consensus estimate of $148.21 million. During the same quarter last year, the company posted ($0.30) earnings per share. The firm's revenue for the quarter was up 43.3% compared to the same quarter last year. As a group, research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MIRM shares. Wall Street Zen downgraded Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. HC Wainwright restated a "buy" rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Royal Bank Of Canada lifted their target price on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $136.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Finally, Citizens Jmp increased their price target on shares of Mirum Pharmaceuticals from $140.00 to $146.00 and gave the company a "market outperform" rating in a research report on Monday, June 15th. One 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $139.80.

About Mirum Pharmaceuticals

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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