Rafferty Asset Management LLC Increases Stock Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Rafferty Asset Management LLC increased its holdings in Mirum Pharmaceuticals by 14.8% during the first quarter, now owning 51,857 shares valued at approximately $2.34 million.
• Mirum Pharmaceuticals reported a 64.1% increase in revenue year-over-year, totaling $127.79 million, and beat earnings expectations with an EPS of ($0.12).
• Several analysts have issued buy ratings for Mirum Pharmaceuticals, with target prices increasing to as high as $89.00 following recent research reports.

Rafferty Asset Management LLC raised its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,857 shares of the company's stock after purchasing an additional 6,697 shares during the quarter. Rafferty Asset Management LLC owned 0.10% of Mirum Pharmaceuticals worth $2,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in Mirum Pharmaceuticals by 2.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company's stock worth $189,481,000 after buying an additional 101,358 shares during the period. Vanguard Group Inc. increased its holdings in Mirum Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock valued at $114,430,000 after purchasing an additional 115,327 shares during the period. Nuveen Asset Management LLC raised its position in Mirum Pharmaceuticals by 46.7% during the 4th quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock worth $29,861,000 after purchasing an additional 229,746 shares during the last quarter. Nuveen LLC acquired a new position in Mirum Pharmaceuticals during the 1st quarter worth about $29,495,000. Finally, MPM Bioimpact LLC grew its position in shares of Mirum Pharmaceuticals by 19.7% in the 4th quarter. MPM Bioimpact LLC now owns 589,579 shares of the company's stock valued at $24,379,000 after buying an additional 96,856 shares during the last quarter.

Mirum Pharmaceuticals Stock Performance

MIRM traded down $0.35 during trading on Thursday, hitting $74.27. 398,683 shares of the company traded hands, compared to its average volume of 526,148. 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 firm has a market cap of $3.73 billion, a P/E ratio of -61.27 and a beta of 0.92. The stock's fifty day moving average is $58.58 and its 200 day moving average is $49.73. Mirum Pharmaceuticals, Inc. has a one year low of $36.86 and a one year high of $76.02.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating 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%.Mirum Pharmaceuticals's revenue was up 64.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.52) earnings per share. As a group, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were 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 directly owned 2,426 shares of the company's stock, valued at approximately $140,708. This trade represents a 80.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the sale, the chief executive officer directly owned 138,641 shares in the company, valued at $8,595,742. The trade was 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 currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MIRM. Evercore ISI raised their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday, August 25th. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Finally, HC Wainwright boosted their target price on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $74.13.

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.