Secure Asset Management LLC Buys 8,990 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Secure Asset Management LLC grew its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 22.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,910 shares of the company's stock after purchasing an additional 8,990 shares during the quarter. Secure Asset Management LLC owned approximately 0.10% of Mirum Pharmaceuticals worth $2,203,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MIRM. Jones Financial Companies Lllp boosted its stake in shares of Mirum Pharmaceuticals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock valued at $30,000 after purchasing an additional 357 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Mirum Pharmaceuticals during the fourth quarter worth $35,000. GF Fund Management CO. LTD. bought a new position in Mirum Pharmaceuticals during the fourth quarter worth $42,000. AlphaQuest LLC boosted its stake in Mirum Pharmaceuticals by 969.6% during the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,658 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in Mirum Pharmaceuticals by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock worth $172,000 after acquiring an additional 312 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on MIRM shares. Robert W. Baird increased their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Raymond James reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and set a $73.00 target price on shares of Mirum Pharmaceuticals in a research note on Monday, May 19th. Finally, JMP Securities increased their target price on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a research note 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, Mirum Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $60.73.

Mirum Pharmaceuticals Stock Up 3.9%

MIRM traded up $1.73 during trading on Friday, hitting $46.38. 272,949 shares of the company's stock were exchanged, compared to its average volume of 512,826. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The business's 50 day moving average is $42.61 and its two-hundred day moving average is $44.73. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $24.53 and a fifty-two week high of $54.23. The stock has a market cap of $2.30 billion, a P/E ratio of -22.96 and a beta of 0.95.

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

Insider Activity

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

Mirum Pharmaceuticals 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.