Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its stake in Mirum Pharmaceuticals by 10.9%, now holding 382,979 shares valued at approximately $17.25 million.
• CEO Christopher Peetz sold 40,000 shares of the company's stock for $2.48 million, significantly reducing his position by 22.39%.
• Mirum Pharmaceuticals reported a 64.1% increase in revenue year-over-year, with $127.79 million in the last quarter, beating analyst estimates.

Candriam S.C.A. trimmed its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 382,979 shares of the company's stock after selling 46,752 shares during the quarter. Candriam S.C.A. owned about 0.77% of Mirum Pharmaceuticals worth $17,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MIRM. Nuveen LLC purchased a new position in shares of Mirum Pharmaceuticals in the 1st quarter valued at approximately $29,495,000. Federated Hermes Inc. raised its position in shares of Mirum Pharmaceuticals by 9,440.4% in the 1st quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock valued at $15,649,000 after purchasing an additional 343,725 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Mirum Pharmaceuticals by 46.7% in the 4th quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock valued at $29,861,000 after purchasing an additional 229,746 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Mirum Pharmaceuticals by 783.9% in the 1st quarter. Russell Investments Group Ltd. now owns 229,449 shares of the company's stock valued at $10,337,000 after purchasing an additional 203,489 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Mirum Pharmaceuticals by 101.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,276 shares of the company's stock valued at $16,050,000 after purchasing an additional 179,316 shares during the last quarter.

Insiders Place Their Bets

In related news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the sale, the chief executive officer directly owned 138,641 shares in the company, valued at $8,595,742. This represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,041 shares of company stock worth $5,320,624 in the last three months. 22.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MIRM has been the subject of several research analyst reports. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday. JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. HC Wainwright increased their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a 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 report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $74.13.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ MIRM traded up $0.1450 during midday trading on Monday, reaching $71.6650. 526,951 shares of the stock were exchanged, compared to its average volume of 507,133. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -59.14 and a beta of 0.94. Mirum Pharmaceuticals, Inc. has a twelve month low of $36.86 and a twelve month high of $72.08. The firm has a 50-day simple moving average of $54.81 and a two-hundred day simple moving average of $48.40. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.19. The business had revenue of $127.79 million for the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The business's revenue was up 64.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.52) EPS. As a group, analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

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.