Mirum Pharmaceuticals, Inc. $MIRM Shares Acquired by Emerald Advisers LLC

Key Points

• Emerald Advisers LLC increased its stake in Mirum Pharmaceuticals by 8.2% in the first quarter, buying 30,129 additional shares and bringing its total holding to 397,263 shares worth about $36.7 million.
• Several other major investors also adjusted positions in the stock, including Janus Henderson, Vanguard, and State Street, indicating continued institutional interest in Mirum Pharmaceuticals.
• Insiders have recently been selling shares: CEO Christopher Peetz and SVP Jolanda Howe both trimmed holdings, and insiders have sold 65,315 shares over the past three months under pre-arranged trading plans.

Emerald Advisers LLC boosted its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,263 shares of the company's stock after buying an additional 30,129 shares during the period. Mirum Pharmaceuticals accounts for approximately 1.2% of Emerald Advisers LLC's investment portfolio, making the stock its 23rd largest holding. Emerald Advisers LLC owned 0.65% of Mirum Pharmaceuticals worth $36,699,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in shares of Mirum Pharmaceuticals by 21.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company's stock worth $479,050,000 after acquiring an additional 1,067,722 shares during the last quarter. Vanguard Group Inc. lifted its position in Mirum Pharmaceuticals by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company's stock valued at $205,065,000 after purchasing an additional 50,720 shares during the last quarter. State Street Corp lifted its position in Mirum Pharmaceuticals by 59.2% in the 4th quarter. State Street Corp now owns 2,143,992 shares of the company's stock valued at $169,354,000 after purchasing an additional 797,088 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Mirum Pharmaceuticals by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company's stock valued at $112,196,000 after purchasing an additional 137,087 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Mirum Pharmaceuticals by 56.6% during the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company's stock valued at $97,776,000 after purchasing an additional 447,141 shares during the period.

Insider Transactions at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $122.27, for a total value of $2,445,400.00. Following the transaction, the chief executive officer owned 194,309 shares of the company's stock, valued at approximately $23,758,161.43. This trade represents a 9.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 2,721 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $120.00, for a total value of $326,520.00. Following the completion of the transaction, the senior vice president directly owned 3,114 shares in the company, valued at $373,680. This represents a 46.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,315 shares of company stock valued at $6,991,928 over the last three months. Company insiders own 8.32% of the company's stock.

Analyst Upgrades and Downgrades

MIRM has been the topic of several analyst reports. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Evercore reiterated an "outperform" rating and set a $138.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 2nd. Raymond James Financial restated a "strong-buy" rating and issued a $165.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada lifted their target price on Mirum Pharmaceuticals from $142.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

Mirum Pharmaceuticals Trading Down 2.5%

Mirum Pharmaceuticals stock opened at $119.04 on Tuesday. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of -8.75 and a beta of 0.48. Mirum Pharmaceuticals, Inc. has a 1 year low of $50.25 and a 1 year high of $130.00. The firm's 50 day moving average price is $106.93 and its two-hundred day moving average price is $98.12. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($12.68). The company had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. Mirum Pharmaceuticals's revenue was up 43.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.30) EPS. On average, research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal 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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