Russell Investments Group Ltd. Boosts Stake in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Russell Investments Group Ltd. increased its stake in Mirum Pharmaceuticals by 783.9% in the first quarter, acquiring an additional 203,489 shares, bringing their total to 229,449 shares valued at approximately $10.34 million.
• Multiple analysts have upgraded Mirum Pharmaceuticals' ratings, with Evercore ISI and Stifel Nicolaus setting price targets of $89.00, contributing to a consensus average target price of $74.13.
• Mirum Pharmaceuticals reported a quarterly revenue of $127.79 million, a significant increase of 64.1% year-over-year, and exceeded earnings expectations with an EPS of ($0.12) compared to the projected ($0.31).

Russell Investments Group Ltd. increased its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 783.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 229,449 shares of the company's stock after buying an additional 203,489 shares during the period. Russell Investments Group Ltd. owned 0.46% of Mirum Pharmaceuticals worth $10,337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MIRM. CWM LLC raised its position in shares of Mirum Pharmaceuticals by 259.4% in the first quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after buying an additional 428 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth about $35,000. GF Fund Management CO. LTD. bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth about $42,000. KBC Group NV purchased a new stake in Mirum Pharmaceuticals in the first quarter worth about $89,000. Finally, Summit Investment Advisors Inc. lifted its holdings in Mirum Pharmaceuticals by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock worth $172,000 after buying an additional 312 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have commented on MIRM shares. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Mirum Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 17th. Evercore ISI lifted their target price on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, HC Wainwright lifted their target price on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One research 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 company presently has an average rating of "Buy" and an average price target of $74.13.

Insiders Place Their Bets

In related news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction on Thursday, August 7th. The shares were 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 in the company, valued at approximately $140,708. The trade was a 80.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals 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 transaction, the chief executive officer owned 138,641 shares in the company, valued at approximately $8,595,742. This trade represents a 22.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,041 shares of company stock worth $5,320,624. 22.87% of the stock is owned by corporate insiders.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock traded up $2.46 during mid-day trading on Friday, reaching $71.52. 1,174,547 shares of the company's stock traded hands, compared to its average volume of 783,612. Mirum Pharmaceuticals, Inc. has a 12 month low of $36.86 and a 12 month high of $72.08. The firm has a 50 day moving average price of $54.81 and a two-hundred day moving average price of $48.40. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. The firm has a market capitalization of $3.59 billion, a PE ratio of -59.11 and a beta of 0.94.

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

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.