Secure Asset Management LLC Has $2.20 Million Stock Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Secure Asset Management LLC lifted its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 22.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,910 shares of the company's stock after purchasing an additional 8,990 shares during the quarter. Secure Asset Management LLC owned 0.10% of Mirum Pharmaceuticals worth $2,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Mirum Pharmaceuticals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock worth $30,000 after purchasing an additional 357 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth about $35,000. GF Fund Management CO. LTD. bought a new stake in Mirum Pharmaceuticals during the 4th quarter worth about $42,000. AlphaQuest LLC lifted its position in Mirum Pharmaceuticals by 969.6% during the 4th quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock worth $76,000 after buying an additional 1,658 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Mirum Pharmaceuticals by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock worth $172,000 after buying an additional 312 shares in the last quarter.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock traded up $0.04 during trading hours on Thursday, hitting $44.65. The company had a trading volume of 393,259 shares, compared to its average volume of 513,899. The firm has a market cap of $2.21 billion, a PE ratio of -22.10 and a beta of 0.95. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. Mirum Pharmaceuticals, Inc. has a one year low of $24.07 and a one year high of $54.23. The firm has a 50-day moving average of $42.57 and a 200 day moving average of $44.68.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. During the same quarter in the prior year, the business posted ($0.54) EPS. The business's revenue was up 61.2% compared to the same quarter last year. On average, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $73.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, May 19th. Robert W. Baird upped their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Finally, JMP Securities upped their target price on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $60.73.

Insiders Place Their Bets

In related news, SVP Jolanda Howe sold 57,606 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the sale, the senior vice president now owns 4,841 shares in the company, valued at approximately $214,698.35. This trade represents a 92.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter Radovich sold 7,879 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $348,330.59. Following the sale, the chief operating officer now owns 18,672 shares in the company, valued at $825,489.12. This represents a 29.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,764 shares of company stock worth $4,109,161 in the last quarter. Corporate insiders own 22.87% of the company's stock.

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.