CenterBook Partners LP Purchases 37,010 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• CenterBook Partners LP sharply increased its stake in Mirum Pharmaceuticals, buying 37,010 additional shares in the fourth quarter and lifting its position by 442.9% to 45,367 shares valued at about $3.58 million.
• Analysts remain generally bullish on MIRM, with several firms raising price targets, including RBC to $142 and TD Cowen to $145; the consensus rating is Moderate Buy with a target price of $137.64.
• Mirum reported strong revenue growth in its latest quarter, with sales up 43.3% year over year to $159.88 million, even as it posted a much larger-than-expected loss of $13.43 per share. Insiders also sold shares during the period, including notable sales by Joanne Quan and COO Peter Radovich.

CenterBook Partners LP increased its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 442.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,367 shares of the company's stock after acquiring an additional 37,010 shares during the period. CenterBook Partners LP owned about 0.09% of Mirum Pharmaceuticals worth $3,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MCF Advisors LLC grew its position in Mirum Pharmaceuticals by 76.4% during the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company's stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Jones Financial Companies Lllp grew its position in Mirum Pharmaceuticals by 34.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 957 shares of the company's stock worth $70,000 after acquiring an additional 243 shares during the last quarter. Arizona State Retirement System grew its position in Mirum Pharmaceuticals by 2.6% during the 3rd quarter. Arizona State Retirement System now owns 10,984 shares of the company's stock worth $805,000 after acquiring an additional 275 shares during the last quarter. Comerica Bank grew its position in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after acquiring an additional 278 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in Mirum Pharmaceuticals by 46.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,106 shares of the company's stock worth $56,000 after acquiring an additional 351 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MIRM. Royal Bank Of Canada boosted their price objective on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Citizens Jmp reiterated a "market outperform" rating and issued a $132.00 price target on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. Leerink Partners reduced their price target on Mirum Pharmaceuticals from $120.00 to $118.00 and set an "outperform" rating on the stock in a research report on Thursday, February 26th. Wall Street Zen lowered Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, TD Cowen upped their price target on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

Mirum Pharmaceuticals Stock Up 0.1%

Shares of NASDAQ:MIRM opened at $93.58 on Tuesday. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of -6.88 and a beta of 0.50. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The business's 50-day moving average is $97.38 and its 200-day moving average is $90.52. Mirum Pharmaceuticals, Inc. has a 1 year low of $45.37 and a 1 year high of $114.99.

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

Insider Buying and Selling

In other news, insider Joanne Quan sold 7,287 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the transaction, the insider directly owned 18,864 shares of the company's stock, valued at $1,735,110.72. The trade was a 27.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Peter Radovich sold 16,515 shares of the business's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $1,519,049.70. Following the completion of the transaction, the chief operating officer directly owned 40,272 shares in the company, valued at $3,704,218.56. This represents a 29.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 106,806 shares of company stock worth $9,939,816 over the last three months. Insiders own 8.32% of the company's stock.

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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