Polar Capital Holdings Plc Has $62.69 Million Stock Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Polar Capital Holdings trimmed its Mirum Pharmaceuticals stake by 3.3% in the fourth quarter, but still held 793,642 shares valued at about $62.69 million, or roughly 1.54% of the company.
• Mirum reported a mixed quarterly update, with revenue of $159.88 million beating estimates but EPS of -$13.43 missing forecasts by a wide margin; revenue also rose 43.3% year over year.
• Analysts remain mostly positive on MIRM, with several firms raising price targets and the stock carrying a Moderate Buy consensus target of $139.80, though one analyst recently downgraded it to sell.

Polar Capital Holdings Plc lowered its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 793,642 shares of the company's stock after selling 26,910 shares during the period. Polar Capital Holdings Plc owned approximately 1.54% of Mirum Pharmaceuticals worth $62,690,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MIRM. SG Americas Securities LLC acquired a new position in shares of Mirum Pharmaceuticals in the 4th quarter valued at approximately $1,478,000. TD Asset Management Inc acquired a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $1,129,000. Nan Fung Trinity HK Ltd. boosted its position in shares of Mirum Pharmaceuticals by 45.6% during the 4th quarter. Nan Fung Trinity HK Ltd. now owns 227,479 shares of the company's stock worth $17,969,000 after acquiring an additional 71,214 shares in the last quarter. William Blair Investment Management LLC bought a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $22,965,000. Finally, Tudor Investment Corp ET AL bought a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $2,027,000.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $101.55 on Wednesday. The firm's fifty day moving average price is $98.17 and its two-hundred day moving average price is $91.67. The stock has a market cap of $6.19 billion, a PE ratio of -7.46 and a beta of 0.50. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $114.99.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The firm had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The company's revenue was up 43.3% compared to the same quarter last year. During the same period last year, the business earned ($0.30) EPS. On average, equities analysts expect that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $93.82, for a total transaction of $469,100.00. Following the sale, the chief financial officer directly owned 44,788 shares of the company's stock, valued at approximately $4,202,010.16. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares of the company's stock, valued at $18,622,574.56. This represents a 13.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MIRM shares. Raymond James Financial restated a "strong-buy" rating and set a $165.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. TD Cowen lifted their price target on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Citizens Jmp boosted their price target on Mirum Pharmaceuticals from $140.00 to $146.00 and gave the stock a "market outperform" rating in a report on Monday. Wall Street Zen downgraded Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Morgan Stanley lifted their target price on Mirum Pharmaceuticals from $140.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.80.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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