Invesco Ltd. Buys 14,144 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Invesco Ltd. increased its holdings in Mirum Pharmaceuticals by 4.7%, owning approximately 313,423 shares valued at about $14.1 million as of the latest SEC filing.
• Insider selling has been notable, with SVP Jolanda Howe and CEO Christopher Peetz selling significant amounts of stock, representing major decreases in their holdings.
• Analysts remain optimistic with target price estimates for Mirum Pharmaceuticals ranging from $73.00 to $89.00, and the stock currently holds a consensus rating of "Buy."

Invesco Ltd. grew its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 4.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 313,423 shares of the company's stock after buying an additional 14,144 shares during the period. Invesco Ltd. owned approximately 0.63% of Mirum Pharmaceuticals worth $14,120,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MIRM. Legal & General Group Plc raised its position in shares of Mirum Pharmaceuticals by 3.5% during the fourth quarter. Legal & General Group Plc now owns 40,820 shares of the company's stock valued at $1,688,000 after buying an additional 1,389 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Mirum Pharmaceuticals by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 24,085 shares of the company's stock valued at $996,000 after buying an additional 1,356 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Mirum Pharmaceuticals by 260.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,112 shares of the company's stock valued at $211,000 after buying an additional 3,694 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at about $269,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at about $308,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MIRM shares. HC Wainwright upped their price objective on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday. Evercore ISI increased their price target on shares of 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 target on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM traded up $0.88 during mid-day trading on Thursday, hitting $75.53. The company's stock had a trading volume of 1,663,873 shares, compared to its average volume of 864,021. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $36.86 and a fifty-two week high of $75.63. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -62.42 and a beta of 0.94. The stock has a fifty day moving average of $56.68 and a 200-day moving average of $49.07.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly 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) earnings per share. The company's quarterly revenue was up 64.1% compared to the same quarter last year. As a group, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the sale, the senior vice president owned 2,426 shares of the company's stock, valued at approximately $140,708. This trade represents a 80.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher Peetz sold 40,000 shares of the firm'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 transaction of $2,480,000.00. Following the sale, the chief executive officer directly owned 138,641 shares of the company's stock, valued at approximately $8,595,742. The trade was a 22.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,041 shares of company stock valued at $5,320,624. Company insiders own 14.36% of the company's stock.

About Mirum Pharmaceuticals

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.