Diversified Trust Co Buys New Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Diversified Trust Co opened a new position in Mirum Pharmaceuticals during Q1, buying 10,745 shares valued at about $993,000.
• Analyst sentiment remains broadly positive: several firms reiterated or raised targets, and the stock carries an average “Moderate Buy” rating with a consensus price target of $139.80.
• Mirum reported strong revenue growth of 43.3% year over year to $159.88 million, but earnings missed expectations sharply; meanwhile, the stock was trading around $111.19, near its 52-week high.

Diversified Trust Co purchased a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,745 shares of the company's stock, valued at approximately $993,000.

Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its holdings in Mirum Pharmaceuticals by 221.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,682 shares of the company's stock worth $133,000 after purchasing an additional 1,158 shares during the period. Mackenzie Financial Corp grew its position in Mirum Pharmaceuticals by 425.2% in the fourth quarter. Mackenzie Financial Corp now owns 19,889 shares of the company's stock worth $1,565,000 after acquiring an additional 16,102 shares during the period. XTX Topco Ltd acquired a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $3,179,000. Zacks Investment Management purchased a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at approximately $2,401,000. Finally, Vestal Point Capital LP purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $5,213,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MIRM shares. Raymond James Financial reiterated a "strong-buy" rating and set a $165.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Evercore reissued an "outperform" rating and issued a $138.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. CLSA set a $146.00 price objective on Mirum Pharmaceuticals in a report on Monday, June 15th. Wall Street Zen cut 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 shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $139.80.

Insiders Place Their Bets

In other 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 sale, the senior vice president owned 5,835 shares in the company, valued at $594,878.25. This trade represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the transaction, the chief executive officer directly owned 194,309 shares of the company's stock, valued at $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 37,594 shares of company stock valued at $3,608,758 in the last ninety days. Insiders own 8.32% of the company's stock.

Mirum Pharmaceuticals Trading Up 3.2%

Shares of Mirum Pharmaceuticals stock opened at $111.19 on Wednesday. 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, Inc. has a 52-week low of $47.89 and a 52-week high of $114.99. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of -8.17 and a beta of 0.50. The company's 50-day simple moving average is $99.19 and its 200-day simple moving average is $92.93.

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

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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