Tema Etfs LLC Sells 30,536 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Tema Etfs LLC reduced its stake in Mirum Pharmaceuticals by 72.8% in Q1, ending with 11,432 shares valued at approximately $515,000.
• In related insider news, CEO Christopher Peetz sold 40,000 shares for about $2.48 million, representing a 22.39% decrease in his ownership.
• Mirum Pharmaceuticals reported a revenue increase of 64.1% year-over-year, with quarterly revenue hitting $127.79 million and EPS surpassing estimates.

Tema Etfs LLC cut its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 72.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,432 shares of the company's stock after selling 30,536 shares during the period. Tema Etfs LLC's holdings in Mirum Pharmaceuticals were worth $515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its stake in Mirum Pharmaceuticals by 2.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company's stock valued at $189,481,000 after acquiring an additional 101,358 shares during the period. Vanguard Group Inc. boosted its position in shares of Mirum Pharmaceuticals by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock worth $114,430,000 after buying an additional 115,327 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Mirum Pharmaceuticals by 46.7% during the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock worth $29,861,000 after buying an additional 229,746 shares during the period. Nuveen LLC acquired a new position in shares of Mirum Pharmaceuticals during the first quarter worth about $29,495,000. Finally, MPM Bioimpact LLC boosted its position in shares of Mirum Pharmaceuticals by 19.7% during the fourth quarter. MPM Bioimpact LLC now owns 589,579 shares of the company's stock worth $24,379,000 after buying an additional 96,856 shares during the period.

Analyst Ratings Changes

Several research firms have recently weighed in on MIRM. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Evercore ISI upped their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. HC Wainwright increased their price target on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 25th. One investment 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.com, the company presently has an average rating of "Buy" and a consensus price target of $74.13.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM traded up $0.31 on Wednesday, hitting $74.65. The company's stock had a trading volume of 177,049 shares, compared to its average volume of 524,275. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. The stock has a fifty day moving average of $58.09 and a two-hundred day moving average of $49.55. The firm has a market capitalization of $3.75 billion, a P/E ratio of -61.69 and a beta of 0.92. Mirum Pharmaceuticals, Inc. has a one year low of $36.86 and a one year high of $76.02.

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

Insider Buying and Selling

In other news, SVP Jolanda Howe sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was 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. This trade represents a 80.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Peetz sold 40,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $62.00, for a total value 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 quarter, 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 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.