Strs Ohio Makes New Investment in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Strs Ohio acquired a new stake in Mirum Pharmaceuticals, purchasing 12,200 shares valued at approximately $550,000 during the first quarter of 2023.
• Mirum Pharmaceuticals reported earnings surpassing analyst expectations, with a revenue increase of 64.1% year-over-year, totaling $127.79 million for the latest quarter.
• Multiple analysts have upgraded their target prices for Mirum Pharmaceuticals, with estimates reaching as high as $89.00, indicating a consensus rating of "Buy" for the stock.

Strs Ohio acquired a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,200 shares of the company's stock, valued at approximately $550,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Mirum Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock valued at $114,430,000 after buying an additional 115,327 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Mirum Pharmaceuticals by 4,555.0% in the first quarter. GAMMA Investing LLC now owns 5,586 shares of the company's stock valued at $252,000 after buying an additional 5,466 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Mirum Pharmaceuticals by 174.9% in the first quarter. SG Americas Securities LLC now owns 19,182 shares of the company's stock valued at $864,000 after buying an additional 12,204 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Mirum Pharmaceuticals by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,685 shares of the company's stock valued at $752,000 after buying an additional 339 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at about $89,000.

Insider Activity

In related news, CEO Christopher Peetz sold 40,000 shares of the firm's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric Bjerkholt sold 9,578 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $76.01, for a total transaction of $728,023.78. Following the sale, the chief financial officer owned 39,945 shares in the company, valued at approximately $3,036,219.45. This trade represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,619 shares of company stock worth $7,313,448 in the last three months. 22.87% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MIRM shares. JPMorgan Chase & Co. increased their price target on shares of Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "buy" rating in a report on Monday, August 11th. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday, August 25th. Finally, JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $74.44.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock traded down $0.14 during trading hours on Tuesday, hitting $73.79. The company's stock had a trading volume of 237,565 shares, compared to its average volume of 531,218. The business has a fifty day moving average of $64.82 and a 200-day moving average of $52.14. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -60.98 and a beta of 0.92. Mirum Pharmaceuticals, Inc. has a twelve month low of $36.88 and a twelve month high of $78.10. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.19. The business had revenue of $127.79 million for the quarter, compared to analyst estimates of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The company's quarterly revenue was up 64.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.52) earnings per share. As a group, equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

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.