Jefferies Financial Group Inc. Purchases Shares of 23,500 Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Key Points

• Jefferies Financial Group Inc. has acquired a new position in Mirum Pharmaceuticals, purchasing 23,500 shares valued at approximately $1.06 million during the first quarter.
• Other institutional investors have also increased their stakes in Mirum, with \textstrong{Federated Hermes Inc.} boosting its share ownership by 9,440.4% to a total of 347,366 shares worth $15.65 million.
• Market analysts currently maintain a generally favorable view of Mirum Pharmaceuticals, with an average rating of "Buy" and a consensus price target of $65.50.

Jefferies Financial Group Inc. purchased a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 23,500 shares of the company's stock, valued at approximately $1,059,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at about $277,000. Geode Capital Management LLC raised its stake in Mirum Pharmaceuticals by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 943,344 shares of the company's stock worth $39,016,000 after buying an additional 7,147 shares during the period. ExodusPoint Capital Management LP bought a new position in Mirum Pharmaceuticals in the fourth quarter worth approximately $916,000. Russell Investments Group Ltd. boosted its holdings in Mirum Pharmaceuticals by 8.1% in the fourth quarter. Russell Investments Group Ltd. now owns 25,960 shares of the company's stock worth $1,073,000 after acquiring an additional 1,945 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Mirum Pharmaceuticals by 5.2% in the fourth quarter. Invesco Ltd. now owns 299,279 shares of the company's stock valued at $12,375,000 after acquiring an additional 14,747 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MIRM shares. JMP Securities increased their target price on Mirum Pharmaceuticals from $79.00 to $81.00 and gave the stock a "market outperform" rating in a report on Thursday. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday. Wall Street Zen cut shares of Mirum Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. Evercore ISI restated an "outperform" rating on shares of Mirum Pharmaceuticals in a report on Friday, July 11th. Finally, HC Wainwright raised their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $67.63.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 564 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $48.25, for a total value of $27,213.00. Following the sale, the senior vice president directly owned 2,903 shares in the company, valued at $140,069.75. The trade was a 16.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 14.36% of the company's stock.

Mirum Pharmaceuticals Stock Performance

Shares of Mirum Pharmaceuticals stock traded up $6.43 during mid-day trading on Thursday, hitting $59.82. 2,046,623 shares of the stock were exchanged, compared to its average volume of 472,782. Mirum Pharmaceuticals, Inc. has a 12 month low of $36.86 and a 12 month high of $61.00. The company has a 50-day simple moving average of $50.23 and a 200 day simple moving average of $47.01. The company has a market capitalization of $2.96 billion, a P/E ratio of -37.16 and a beta of 0.94. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.04 and a current ratio of 3.22.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released 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 company had revenue of $127.79 million for the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative return on equity of 33.63% and a negative net margin of 20.39%. The business's revenue for the quarter was up 64.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.52) EPS. 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.