Mirum Pharmaceuticals, Inc. $MIRM Stake Reduced by Penn Capital Management Company LLC

Key Points

• Penn Capital reduced its Mirum Pharmaceuticals stake by 4.2%, selling 12,633 shares; it ended the quarter with 286,281 shares valued at about $24.5 million.
• Mirum reported quarterly revenue of $185.7 million, up 39.6% year over year and above estimates, but its loss of $0.87 per share was wider than analysts expected.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $154.94; insider selling was also reported, including sales by the CEO and an SVP.

Penn Capital Management Company LLC decreased its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 286,281 shares of the company's stock after selling 12,633 shares during the period. Mirum Pharmaceuticals comprises approximately 1.8% of Penn Capital Management Company LLC's investment portfolio, making the stock its 5th biggest holding. Penn Capital Management Company LLC owned approximately 0.44% of Mirum Pharmaceuticals worth $24,517,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MIRM. Jupiter Topco LLC acquired a new stake in Mirum Pharmaceuticals during the 2nd quarter worth approximately $691,672,000. Janus Henderson Group PLC grew its holdings in Mirum Pharmaceuticals by 14.5% in the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock valued at $641,764,000 after buying an additional 880,505 shares in the last quarter. BlackRock Inc. acquired a new position in Mirum Pharmaceuticals in the 2nd quarter valued at $513,945,000. ABS Investment Management LLC bought a new position in Mirum Pharmaceuticals during the 2nd quarter worth $245,847,000. Finally, William Blair Investment Management LLC bought a new position in Mirum Pharmaceuticals during the 2nd quarter worth $164,453,000.

Mirum Pharmaceuticals Stock Down 0.6%

Shares of MIRM stock opened at $93.18 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.07. Mirum Pharmaceuticals, Inc. has a twelve month low of $63.23 and a twelve month high of $130.00. The business has a fifty day simple moving average of $89.20 and a 200 day simple moving average of $98.46.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative net margin of 134.75% and a negative return on equity of 97.25%. The company had revenue of $185.72 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was up 39.6% compared to the same quarter last year. On average, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 30,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the completion of the transaction, the chief executive officer directly owned 194,440 shares in the company, valued at $19,187,339.20. This trade represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the senior vice president owned 1,274 shares in the company, valued at $127,400. This trade represents a 96.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 90,658 shares of company stock valued at $8,826,200. 8.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MIRM has been the subject of a number of research reports. Weiss Ratings downgraded Mirum Pharmaceuticals from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, October 22nd. Cantor Fitzgerald upped their price target on shares of Mirum Pharmaceuticals from $155.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, November 4th. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Sunday, September 6th. UBS Group set a $137.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Finally, HC Wainwright lifted their price objective on shares of Mirum Pharmaceuticals from $200.00 to $202.00 and gave the stock a "buy" rating in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.94.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for rare liver and other serious diseases. Founded in 2018, the company works on therapies for conditions with limited treatment options.

Its commercial products include Livmarli (maralixibat), an oral treatment for cholestatic pruritus associated with Alagille syndrome and, in the United States, progressive familial intrahepatic cholestasis. Mirum also markets Cholbam (cholic acid) for certain bile acid synthesis disorders and Chenodal (chenodiol) for cerebrotendinous xanthomatosis.

Mirum serves patients in the United States and other markets, including parts of Europe.

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