Mirum Pharmaceuticals, Inc. $MIRM Holdings Increased by Frazier Life Sciences Management L.P.

Key Points

• Frazier Life Sciences Management L.P. increased its stake in Mirum Pharmaceuticals by 3.4%, making it the second largest position in their portfolio, holding approximately 6.8 million shares valued at around $306 million.
• Analysts have given a generally positive outlook for Mirum Pharmaceuticals, with an average rating of "Buy" and a consensus target price of $74.13, with some price targets going as high as $89.00.
• CEO Christopher Peetz sold 40,000 shares at $62.00 per share, indicating a 22.39% decrease in his ownership, while insiders collectively sold over 91,000 shares worth more than $5.3 million in the last 90 days.

Frazier Life Sciences Management L.P. raised its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,795,121 shares of the company's stock after purchasing an additional 224,729 shares during the quarter. Mirum Pharmaceuticals accounts for about 14.0% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 2nd biggest holding. Frazier Life Sciences Management L.P. owned approximately 13.72% of Mirum Pharmaceuticals worth $306,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MIRM. Tower Research Capital LLC TRC lifted its position in 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 purchasing an additional 3,694 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth approximately $269,000. Tudor Investment Corp ET AL purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth approximately $991,000. Northern Trust Corp raised its stake in shares of Mirum Pharmaceuticals by 8.7% during the fourth quarter. Northern Trust Corp now owns 399,544 shares of the company's stock worth $16,521,000 after acquiring an additional 32,059 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Mirum Pharmaceuticals by 2.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,200 shares of the company's stock worth $711,000 after acquiring an additional 487 shares in the last quarter.

Mirum Pharmaceuticals Stock Up 2.5%

Shares of MIRM stock traded up $1.88 during mid-day trading on Friday, reaching $76.06. 445,555 shares of the company's stock traded hands, compared to its average volume of 886,342. Mirum Pharmaceuticals, Inc. has a 12 month low of $36.86 and a 12 month high of $76.45. The company has a market cap of $3.82 billion, a P/E ratio of -62.86 and a beta of 0.92. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. The company's 50-day moving average price is $59.55 and its 200-day moving average price is $50.02.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $127.79 million for the quarter, compared to analysts' expectations of $107.91 million. During the same quarter in the previous year, the business posted ($0.52) EPS. Mirum Pharmaceuticals's revenue was up 64.1% compared to the same quarter last year. On average, equities analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 25th. HC Wainwright lifted their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "buy" rating in a research note on Monday, August 11th. Finally, JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $74.13.

Insider Activity

In related news, SVP Jolanda Howe sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 2,426 shares of the company's stock, valued at approximately $140,708. This represents a 80.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Peetz sold 40,000 shares of the 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 completion of the sale, the chief executive officer directly owned 138,641 shares of the company's stock, valued at $8,595,742. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,041 shares of company stock valued at $5,320,624 in the last ninety days. Insiders own 22.87% of the company's stock.

Mirum Pharmaceuticals 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.