Rice Hall James & Associates LLC Sells 17,412 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Rice Hall James & Associates reduced its Mirum Pharmaceuticals stake by 10.6% in the first quarter, selling 17,412 shares and leaving it with 147,037 shares valued at about $13.6 million.
• Mirum Pharmaceuticals reported mixed quarterly results, with revenue of $159.88 million beating estimates but earnings per share of -$13.43 missing expectations by a wide margin.
• Analysts remain broadly positive on MIRM, with a consensus rating of “Moderate Buy” and an average price target of $143.40, while several firms recently reaffirmed or raised their targets.

Rice Hall James & Associates LLC lessened its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,037 shares of the company's stock after selling 17,412 shares during the quarter. Rice Hall James & Associates LLC owned 0.24% of Mirum Pharmaceuticals worth $13,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MIRM. Renaissance Technologies LLC grew its stake in shares of Mirum Pharmaceuticals by 32.6% during the first quarter. Renaissance Technologies LLC now owns 582,085 shares of the company's stock valued at $53,773,000 after buying an additional 143,000 shares during the last quarter. Inceptionr LLC purchased a new stake in Mirum Pharmaceuticals during the 1st quarter valued at about $421,000. Cetera Investment Advisers boosted its holdings in Mirum Pharmaceuticals by 9.3% during the 1st quarter. Cetera Investment Advisers now owns 6,742 shares of the company's stock valued at $623,000 after acquiring an additional 572 shares during the period. First Trust Advisors LP boosted its holdings in Mirum Pharmaceuticals by 9.9% during the 1st quarter. First Trust Advisors LP now owns 151,272 shares of the company's stock valued at $13,975,000 after acquiring an additional 13,572 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Mirum Pharmaceuticals by 121.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,356 shares of the company's stock worth $125,000 after acquiring an additional 744 shares during the last quarter.

Mirum Pharmaceuticals Trading Down 1.2%

NASDAQ MIRM opened at $113.03 on Friday. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $130.00. 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 50 day simple moving average of $108.77 and a two-hundred day simple moving average of $100.35. The stock has a market cap of $6.89 billion, a P/E ratio of -8.30 and a beta of 0.48.

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

Insider Activity at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 5,000 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $122.25, for a total value of $611,250.00. Following the completion of the sale, the chief financial officer directly owned 42,181 shares of the company's stock, valued at approximately $5,156,627.25. This trade represents a 10.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 2,721 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total transaction of $326,520.00. Following the sale, the senior vice president directly owned 3,114 shares in the company, valued at $373,680. The trade was a 46.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 65,315 shares of company stock worth $6,991,928 over the last quarter. Corporate insiders own 8.32% of the company's stock.

Analyst Ratings Changes

MIRM has been the topic of a number of analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $165.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Wolfe Research started coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They issued an "outperform" rating and a $145.00 target price on the stock. Citizens Jmp upped their price target on shares of Mirum Pharmaceuticals from $140.00 to $146.00 and gave the company a "market outperform" rating in a report on Monday, June 15th. Finally, Royal Bank Of Canada increased their price target on shares of Mirum Pharmaceuticals from $142.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $143.40.

Mirum Pharmaceuticals Company 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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