Charles Schwab Investment Management Inc. Reduces Stock Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Mirum Pharmaceuticals by 1.4%, now holding approximately 327,878 shares valued at $14.77 million.
• Significant insider selling occurred, with CEO Christopher Peetz and SVP Jolanda Howe selling shares totaling over $3 million, resulting in substantial decreases in their ownership percentages.
• Mirum Pharmaceuticals reported a revenue increase of 64.1% year-over-year, with a quarterly revenue of $127.79 million, beating analysts' expectations.

Charles Schwab Investment Management Inc. lowered its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 327,878 shares of the company's stock after selling 4,761 shares during the period. Charles Schwab Investment Management Inc. owned 0.66% of Mirum Pharmaceuticals worth $14,771,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Mirum Pharmaceuticals by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock worth $114,430,000 after acquiring an additional 115,327 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Mirum Pharmaceuticals by 4,555.0% in the 1st quarter. GAMMA Investing LLC now owns 5,586 shares of the company's stock worth $252,000 after acquiring an additional 5,466 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Mirum Pharmaceuticals by 174.9% in the 1st quarter. SG Americas Securities LLC now owns 19,182 shares of the company's stock worth $864,000 after acquiring an additional 12,204 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Mirum Pharmaceuticals by 2.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,685 shares of the company's stock worth $752,000 after acquiring an additional 339 shares in the last quarter. Finally, MPM Bioimpact LLC raised its position in shares of Mirum Pharmaceuticals by 19.7% in the 4th quarter. MPM Bioimpact LLC now owns 589,579 shares of the company's stock worth $24,379,000 after acquiring an additional 96,856 shares in the last quarter.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, August 11th. The stock was 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 owned 138,641 shares of the company's stock, valued at approximately $8,595,742. This trade represents a 22.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the sale, the senior vice president directly owned 2,426 shares of the company's stock, valued at approximately $140,708. The trade was a 80.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 91,041 shares of company stock valued at $5,320,624. Corporate insiders own 14.36% of the company's stock.

Mirum Pharmaceuticals Stock Down 0.8%

NASDAQ:MIRM traded down $0.64 during trading hours on Friday, reaching $74.89. 159,001 shares of the company traded hands, compared to its average volume of 517,863. The business's 50-day moving average price is $56.68 and its two-hundred day moving average price is $49.07. The stock has a market capitalization of $3.76 billion, a P/E ratio of -61.91 and a beta of 0.94. Mirum Pharmaceuticals, Inc. has a 1 year low of $36.86 and a 1 year high of $75.74. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21.

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

Mirum Pharmaceuticals 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.