Cubist Systematic Strategies LLC Grows Stake in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Cubist Systematic Strategies LLC increased its stake in Mirum Pharmaceuticals by 253.6%, owning 296,887 shares valued at approximately $13.38 million at the end of the first quarter.
• CEO Christopher Peetz sold 40,000 shares of the company's stock for around $2.48 million, resulting in a 22.39% decrease in his ownership.
• Several analysts have upgraded their price targets for Mirum Pharmaceuticals, with targets ranging from $73.00 to $89.00, reflecting a consensus rating of "Buy."

Cubist Systematic Strategies LLC increased its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 253.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,887 shares of the company's stock after acquiring an additional 212,918 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.60% of Mirum Pharmaceuticals worth $13,375,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in shares of Mirum Pharmaceuticals by 2.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company's stock valued at $189,481,000 after purchasing an additional 101,358 shares during the period. Vanguard Group Inc. increased its position in Mirum Pharmaceuticals by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock valued at $114,430,000 after buying an additional 115,327 shares in the last quarter. Nuveen Asset Management LLC increased its position in Mirum Pharmaceuticals by 46.7% in the 4th quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after buying an additional 229,746 shares in the last quarter. Nuveen LLC acquired a new position in Mirum Pharmaceuticals during the 1st quarter worth approximately $29,495,000. Finally, MPM Bioimpact LLC raised its stake in Mirum Pharmaceuticals by 19.7% during the 4th quarter. MPM Bioimpact LLC now owns 589,579 shares of the company's stock worth $24,379,000 after buying an additional 96,856 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MIRM. 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. HC Wainwright upped 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 lifted their price target on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $74.13.

Insider Activity at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 138,641 shares in the company, valued at $8,595,742. The trade was a 22.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the senior vice president owned 2,426 shares in the company, valued at $140,708. This trade represents a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,041 shares of company stock worth $5,320,624. Insiders own 14.36% of the company's stock.

Mirum Pharmaceuticals Stock Up 2.5%

NASDAQ MIRM traded up $1.88 on Friday, reaching $76.06. The company had a trading volume of 445,555 shares, compared to its average volume of 907,992. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. The company's fifty day moving average is $59.55 and its 200 day moving average is $50.05. Mirum Pharmaceuticals, Inc. has a 52-week low of $36.86 and a 52-week high of $76.45. The stock has a market capitalization of $3.82 billion, a P/E ratio of -62.86 and a beta of 0.92.

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

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.