Hsbc Holdings PLC Acquires Shares of 12,031 Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• HSBC acquired 12,031 shares of Mirum Pharmaceuticals in the second quarter, valued at approximately $1.46 million. Other institutional investors, including BlackRock, also initiated or increased positions.
• Mirum reported quarterly revenue of $176.24 million, up 37.9% year over year and above analyst expectations, but its loss of $1.06 per share was wider than forecast.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $137.31 versus the stock’s recent price of $98.22; however, insiders have sold more than 128,000 shares over the past three months.

Hsbc Holdings PLC purchased a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,031 shares of the company's stock, valued at approximately $1,457,000.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Mirum Pharmaceuticals during the 2nd quarter worth approximately $513,945,000. Emerald Advisers LLC lifted its holdings in shares of Mirum Pharmaceuticals by 8.2% in the 1st quarter. Emerald Advisers LLC now owns 397,263 shares of the company's stock valued at $36,699,000 after buying an additional 30,129 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at approximately $1,283,000. Rice Hall James & Associates LLC purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $12,956,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $3,762,000.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $98.22 on Friday. The stock has a fifty day moving average price of $106.81 and a 200 day moving average price of $101.56. The stock has a market cap of $6.38 billion, a PE ratio of -6.75 and a beta of 0.49. Mirum Pharmaceuticals, Inc. has a 1 year low of $63.23 and a 1 year high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The firm had revenue of $176.24 million during the quarter, compared to analyst estimates of $166.33 million. During the same period last year, the company posted ($0.12) EPS. The firm's revenue for the quarter was up 37.9% on a year-over-year basis. Sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on MIRM. Morgan Stanley set a $137.00 price objective on Mirum Pharmaceuticals in a research report on Thursday, August 6th. Wolfe Research started coverage on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They set an "outperform" rating and a $145.00 target price on the stock. UBS Group set a $137.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Citigroup reiterated a "market outperform" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $137.31.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 658 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total value of $65,800.00. Following the sale, the senior vice president directly owned 616 shares of the company's stock, valued at approximately $61,600. This represents a 51.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the transaction, the chief executive officer owned 194,440 shares of the company's stock, valued at $19,187,339.20. This trade represents a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 128,814 shares of company stock worth $13,445,462 in the last three months. Corporate insiders own 8.32% of the company's stock.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on liver and gastrointestinal disorders. The company's medicines are intended to address serious conditions for which available treatment options are limited.

Mirum's lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor approved in the United States for the treatment of cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible patients.

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