Mirum Pharmaceuticals, Inc. $MIRM Shares Bought by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. increased its stake in Mirum Pharmaceuticals by 28.6%, now owning 35,127 shares worth approximately $1.58 million.
• Multiple hedge funds, including Vanguard Group Inc. and GAMMA Investing LLC, also raised their stakes significantly during the first quarter, indicating growing institutional interest in the company.
• Mirum Pharmaceuticals reported a 64.1% revenue increase year-over-year, surpassing analyst expectations with $127.79 million in revenue for the last quarter.

Capital Fund Management S.A. increased its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,127 shares of the company's stock after purchasing an additional 7,805 shares during the quarter. Capital Fund Management S.A. owned approximately 0.07% of Mirum Pharmaceuticals worth $1,582,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MIRM. Nuveen LLC purchased a new stake in Mirum Pharmaceuticals during the first quarter worth $29,495,000. Federated Hermes Inc. lifted its holdings in Mirum Pharmaceuticals by 9,440.4% during the first quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock worth $15,649,000 after buying an additional 343,725 shares during the period. Nuveen Asset Management LLC lifted its holdings in Mirum Pharmaceuticals by 46.7% during the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock worth $29,861,000 after buying an additional 229,746 shares during the period. Russell Investments Group Ltd. lifted its holdings in Mirum Pharmaceuticals by 783.9% during the first quarter. Russell Investments Group Ltd. now owns 229,449 shares of the company's stock worth $10,337,000 after buying an additional 203,489 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Mirum Pharmaceuticals by 101.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,276 shares of the company's stock worth $16,050,000 after buying an additional 179,316 shares during the period.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Wall Street Zen lowered Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday. Evercore ISI increased their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus set a $89.00 price objective on Mirum Pharmaceuticals and gave the company a "buy" rating in a report on Monday, August 11th. Finally, HC Wainwright increased their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Stock Performance

MIRM stock traded down $1.66 during midday trading on Friday, reaching $73.87. The stock had a trading volume of 1,080,284 shares, compared to its average volume of 524,028. The stock has a market cap of $3.71 billion, a PE ratio of -61.05 and a beta of 0.94. 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 fifty day simple moving average of $56.68 and a two-hundred day simple moving average of $49.07. Mirum Pharmaceuticals, Inc. has a 52-week low of $36.86 and a 52-week high of $75.74.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its 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. The company had revenue of $127.79 million during the quarter, compared to analyst estimates of $107.91 million. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The firm's quarterly revenue was up 64.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.52) EPS. As a group, equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Jolanda Howe sold 10,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the transaction, the senior vice president owned 2,426 shares in the company, valued at $140,708. This trade represents a 80.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher Peetz sold 40,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the transaction, the chief executive officer owned 138,641 shares of the company's stock, valued at $8,595,742. This trade 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 valued at $5,320,624 in the last 90 days. 14.36% of the stock is currently owned by company insiders.

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.