PDT Partners LLC Has $6.19 Million Stock Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• PDT Partners LLC increased its stake in Mirum Pharmaceuticals by 20.9%, acquiring an additional 23,782 shares during the first quarter, bringing its total ownership to approximately 0.28%.
• Mirum Pharmaceuticals reported quarterly earnings showing a 64.1% year-over-year revenue increase to $127.79 million, and beat earnings per share estimates by $0.19.
• Several research firms have upgraded their price targets for Mirum Pharmaceuticals, with predictions ranging from $80.00 to $89.00, indicating a positive sentiment towards the stock.

PDT Partners LLC lifted its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 20.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,495 shares of the company's stock after purchasing an additional 23,782 shares during the quarter. PDT Partners LLC owned about 0.28% of Mirum Pharmaceuticals worth $6,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position in Mirum Pharmaceuticals by 253.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 296,887 shares of the company's stock valued at $13,375,000 after acquiring an additional 212,918 shares during the period. Quarry LP acquired a new stake in Mirum Pharmaceuticals in the 1st quarter valued at approximately $56,000. Kodai Capital Management LP acquired a new stake in Mirum Pharmaceuticals in the 1st quarter valued at approximately $2,362,000. Next Century Growth Investors LLC increased its position in Mirum Pharmaceuticals by 18.9% in the 1st quarter. Next Century Growth Investors LLC now owns 195,341 shares of the company's stock valued at $8,800,000 after acquiring an additional 31,089 shares during the period. Finally, Rafferty Asset Management LLC increased its position in Mirum Pharmaceuticals by 14.8% in the 1st quarter. Rafferty Asset Management LLC now owns 51,857 shares of the company's stock valued at $2,336,000 after acquiring an additional 6,697 shares during the period.

Analyst Ratings Changes

Several analysts recently commented on the company. JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals and gave the company a "buy" rating in a research report on Monday, August 11th. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Evercore ISI raised their target price on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Wall Street Zen lowered Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 25th. One investment 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 currently has a consensus rating of "Buy" and an average price target of $74.13.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM traded up $1.88 on Friday, reaching $76.06. 445,555 shares of the stock traded hands, compared to its average volume of 907,992. The firm's fifty day simple moving average is $59.55 and its 200 day simple moving average is $50.05. 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 has a market cap of $3.82 billion, a price-to-earnings ratio of -62.86 and a beta of 0.92. Mirum Pharmaceuticals, Inc. has a 12 month low of $36.86 and a 12 month high of $76.45.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.19. The business 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 company's revenue was up 64.1% compared to the same quarter last year. During the same period last year, the company posted ($0.52) EPS. As a group, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other 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 transaction 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 $140,708. This trade represents a 80.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 sale, the chief executive officer directly owned 138,641 shares of the company's stock, valued at approximately $8,595,742. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,041 shares of company stock valued at $5,320,624. Corporate insiders own 14.36% of the company's stock.

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.