Squarepoint Ops LLC Lowers Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Squarepoint Ops LLC cut its Mirum Pharmaceuticals position by 95.3% in the second quarter, selling 58,796 shares and retaining 2,896 shares valued at approximately $339,000. Other major investors, including BlackRock, Rice Hall James & Associates, and Lisanti Capital Growth, established or increased positions.
• Mirum insiders sold 126,220 shares worth approximately $13.2 million over the past 90 days, including significant sales by CFO Eric Bjerkholt and SVP Jolanda Howe. Corporate insiders currently own 8.32% of the company.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $137.31 price target, despite recent target reductions. Mirum’s latest quarter showed 37.9% year-over-year revenue growth to $176.24 million, but its $1.06 loss per share was wider than expected.

Squarepoint Ops LLC trimmed its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 95.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,896 shares of the company's stock after selling 58,796 shares during the quarter. Squarepoint Ops LLC's holdings in Mirum Pharmaceuticals were worth $339,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Mirum Pharmaceuticals during the 2nd quarter worth approximately $513,945,000. Emerald Advisers LLC raised its stake in shares of Mirum Pharmaceuticals by 8.2% during the 1st quarter. Emerald Advisers LLC now owns 397,263 shares of the company's stock worth $36,699,000 after buying an additional 30,129 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at approximately $1,283,000. Rice Hall James & Associates LLC acquired a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $12,956,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $7,410,000.

Insider Activity

In related news, CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares of the company's stock, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the senior vice president directly owned 1,274 shares in the company, valued at approximately $127,400. The trade was a 96.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 126,220 shares of company stock worth $13,181,004 over the last 90 days. 8.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. TD Cowen dropped their price objective on Mirum Pharmaceuticals from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. HC Wainwright reduced their target price on Mirum Pharmaceuticals from $185.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, August 6th. CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday, September 6th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Mirum Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $137.31.

Mirum Pharmaceuticals Stock Performance

MIRM opened at $91.39 on Wednesday. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The stock has a market cap of $5.93 billion, a P/E ratio of -6.28 and a beta of 0.49. The stock's 50 day simple moving average is $102.68 and its 200 day simple moving average is $101.46. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The firm had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The business's revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) earnings per share. As a group, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on liver and gastrointestinal disorders. The company's medicines are intended to address serious conditions for which available treatment options are limited.

Mirum's lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor approved in the United States for the treatment of cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible patients.

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