Price T Rowe Associates Inc. MD Has $63.75 Million Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Mirum Pharmaceuticals by 0.5%, selling 7,592 shares and now holding approximately 1.41 million shares valued at $63.75 million.
• Analysts have mixed ratings on Mirum Pharmaceuticals, with Wall Street Zen downgrading it from "strong-buy" to "buy" while others, including Stifel Nicolaus, set a price target as high as $89.00.
• Insider selling has occurred recently, with both CEO Christopher Peetz and SVP Jolanda Howe selling shares, indicating a significant decrease in their ownership percentages.

Price T Rowe Associates Inc. MD reduced its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,415,137 shares of the company's stock after selling 7,592 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.86% of Mirum Pharmaceuticals worth $63,753,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. CWM LLC grew its position in shares of Mirum Pharmaceuticals by 259.4% in the 1st quarter. CWM LLC now owns 593 shares of the company's stock valued at $27,000 after purchasing an additional 428 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $42,000. KBC Group NV bought a new stake in shares of Mirum Pharmaceuticals during the first quarter worth $89,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Mirum Pharmaceuticals by 260.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,112 shares of the company's stock worth $211,000 after acquiring an additional 3,694 shares during the period.

Mirum Pharmaceuticals Stock Down 2.2%

Shares of Mirum Pharmaceuticals stock traded down $1.66 on Friday, reaching $73.87. 1,080,284 shares of the company were exchanged, compared to its average volume of 930,933. Mirum Pharmaceuticals, Inc. has a one year low of $36.86 and a one year high of $75.74. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -61.05 and a beta of 0.94. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average of $56.68 and a 200 day moving average of $49.07.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share 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 business had revenue of $127.79 million for the quarter, compared to the consensus estimate of $107.91 million. During the same period in the previous year, the company earned ($0.52) earnings per share. The firm's revenue for the quarter was up 64.1% on a year-over-year basis. On average, equities research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities set a $81.00 target price on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. HC Wainwright increased their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wall Street Zen lowered Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. Finally, Evercore ISI raised their price target on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $74.13.

Insider Activity

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 10,000 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president owned 2,426 shares of the company's stock, valued at $140,708. The trade was a 80.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Peetz sold 40,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the sale, the chief executive officer owned 138,641 shares in the company, valued at $8,595,742. This represents a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,041 shares of company stock worth $5,320,624 over the last 90 days. 14.36% of the stock is owned by company insiders.

Mirum Pharmaceuticals Company 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.