Profund Advisors LLC Boosts Stock Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Profund Advisors LLC increased its stake in Mirum Pharmaceuticals by 257.6% in the fourth quarter, ending with 27,091 shares valued at about $2.14 million.
• Several analysts remain constructive on MIRM, with firms like Stifel, Baird, RBC, and Morgan Stanley raising price targets; the consensus rating is Moderate Buy with a target price of $137.08.
• Mirum reported strong revenue growth of $159.88 million for the quarter, up 43.3% year over year, but earnings missed expectations sharply, posting EPS of ($13.43) versus an estimated ($0.75).

Profund Advisors LLC boosted its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 257.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,091 shares of the company's stock after acquiring an additional 19,515 shares during the quarter. Profund Advisors LLC owned 0.05% of Mirum Pharmaceuticals worth $2,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MIRM. Comerica Bank raised its position in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after purchasing an additional 278 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Mirum Pharmaceuticals by 307.3% in the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company's stock worth $2,211,000 after acquiring an additional 37,028 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mirum Pharmaceuticals by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company's stock worth $1,176,000 after acquiring an additional 1,720 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Mirum Pharmaceuticals in the 1st quarter worth $217,000. Finally, Empowered Funds LLC increased its position in Mirum Pharmaceuticals by 15.4% during the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company's stock valued at $1,729,000 after buying an additional 5,120 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MIRM. Wall Street Zen downgraded Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Stifel Nicolaus set a $136.00 target price on Mirum Pharmaceuticals in a research note on Thursday, May 7th. Robert W. Baird upped their target price on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Royal Bank Of Canada upped their price target on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Finally, Morgan Stanley upped their price target on Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $137.08.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $95.65 on Wednesday. Mirum Pharmaceuticals, Inc. has a one year low of $42.89 and a one year high of $114.99. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. The stock has a market cap of $5.83 billion, a PE ratio of -7.03 and a beta of 0.52. The stock has a 50 day moving average price of $95.71 and a 200 day moving average price of $87.97.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The company had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. During the same period in the prior year, the business posted ($0.30) EPS. Mirum Pharmaceuticals's revenue for the quarter was up 43.3% compared to the same quarter last year. Equities research analysts expect that Mirum Pharmaceuticals, Inc. will post -2.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 40,985 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $3,769,800.30. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $17,872,541.82. This represents a 17.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter Radovich sold 16,515 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $1,519,049.70. Following the completion of the transaction, the chief operating officer owned 40,272 shares of the company's stock, valued at $3,704,218.56. The trade was a 29.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 76,806 shares of company stock valued at $7,064,616 in the last ninety days. Company insiders own 22.87% of the company's stock.

Mirum Pharmaceuticals Profile

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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