Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC reduced its stake in Mirum Pharmaceuticals by 28.2%, owning 19,815 shares valued at approximately $893,000 after selling 7,793 shares in the first quarter.
• Mirum Pharmaceuticals reported a 64.1% increase in revenue year-over-year for the latest quarter, totaling $127.79 million, while its earnings per share surpassed estimates at ($0.12).
• Multiple analysts have raised their price targets for Mirum Pharmaceuticals, with TD Cowen setting a new target of $95.00 and JPMorgan increasing theirs from $53.00 to $77.00, indicating growing confidence in the stock.

Voya Investment Management LLC decreased its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,815 shares of the company's stock after selling 7,793 shares during the quarter. Voya Investment Management LLC's holdings in Mirum Pharmaceuticals were worth $893,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MIRM. Vanguard Group Inc. grew its stake in Mirum Pharmaceuticals by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock worth $114,430,000 after purchasing an additional 115,327 shares in the last quarter. GAMMA Investing LLC raised its stake in Mirum Pharmaceuticals by 4,555.0% during the 1st quarter. GAMMA Investing LLC now owns 5,586 shares of the company's stock valued at $252,000 after acquiring an additional 5,466 shares during the last quarter. SG Americas Securities LLC raised its stake in Mirum Pharmaceuticals by 174.9% during the 1st quarter. SG Americas Securities LLC now owns 19,182 shares of the company's stock valued at $864,000 after acquiring an additional 12,204 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Mirum Pharmaceuticals by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,685 shares of the company's stock worth $752,000 after purchasing an additional 339 shares during the period. Finally, KBC Group NV acquired a new position in Mirum Pharmaceuticals during the 1st quarter worth approximately $89,000.

Mirum Pharmaceuticals Trading Up 0.9%

Mirum Pharmaceuticals stock opened at $74.26 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of -61.37 and a beta of 0.92. Mirum Pharmaceuticals, Inc. has a 1 year low of $36.88 and a 1 year high of $78.10. The firm's 50 day moving average price is $65.68 and its two-hundred day moving average price is $52.44.

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 for the quarter, compared to analyst estimates of $107.91 million. During the same quarter in the previous year, the business posted ($0.52) earnings per share. The firm's quarterly revenue was up 64.1% compared to the same quarter last year. On average, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Activity at Mirum Pharmaceuticals

In related news, CFO Eric Bjerkholt sold 9,578 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $76.01, for a total value of $728,023.78. Following the completion of the sale, the chief financial officer directly owned 39,945 shares in the company, valued at approximately $3,036,219.45. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jolanda Howe sold 10,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was 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 $140,708. This represents a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,619 shares of company stock valued at $7,313,448. Insiders own 14.36% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MIRM. TD Cowen assumed coverage on Mirum Pharmaceuticals in a report on Wednesday. They issued a "buy" rating and a $95.00 price target on the stock. JPMorgan Chase & Co. increased their target price on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Evercore ISI increased their price target on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, August 8th. JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Finally, 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 research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat, Mirum Pharmaceuticals has an average rating of "Buy" and an average price target of $76.50.

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.

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