Vanguard Group Inc. Increases Stock Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Vanguard Group Inc. increased its stake in Mirum Pharmaceuticals by 4.8%, acquiring an additional 115,327 shares, bringing its total ownership to 2,540,061 shares worth $114,430,000.
• Mirum Pharmaceuticals reported a quarterly revenue of $127.79 million, significantly outperforming analyst expectations of $107.91 million, and recorded an EPS of ($0.12), surpassing the consensus estimate of ($0.31).
• Analyst ratings for Mirum Pharmaceuticals are generally positive, with multiple firms issuing "buy" or "strong-buy" ratings and price targets ranging from $74.13 to $89.00.

Vanguard Group Inc. lifted its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,540,061 shares of the company's stock after acquiring an additional 115,327 shares during the period. Vanguard Group Inc. owned approximately 5.14% of Mirum Pharmaceuticals worth $114,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC increased its position in shares of Mirum Pharmaceuticals by 259.4% during the first quarter. CWM LLC now owns 593 shares of the company's stock valued at $27,000 after acquiring an additional 428 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Mirum Pharmaceuticals during the fourth quarter valued at approximately $35,000. GF Fund Management CO. LTD. bought a new stake in shares of Mirum Pharmaceuticals during the fourth quarter valued at approximately $42,000. KBC Group NV bought a new stake in shares of Mirum Pharmaceuticals during the first quarter valued at approximately $89,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Mirum Pharmaceuticals by 260.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,112 shares of the company's stock valued at $211,000 after acquiring an additional 3,694 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MIRM shares. HC Wainwright raised their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. JMP Securities set a $81.00 target price on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Monday. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Finally, Stifel Nicolaus set a $89.00 target price on shares of Mirum Pharmaceuticals and gave the stock a "buy" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat.com, Mirum Pharmaceuticals has an average rating of "Buy" and an average target price of $74.13.

Insiders Place Their Bets

In related news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction on Thursday, August 7th. The shares were 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. The trade was a 80.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the sale, the chief executive officer owned 138,641 shares in the company, valued at approximately $8,595,742. The trade was a 22.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,041 shares of company stock worth $5,320,624. 14.36% of the stock is owned by corporate insiders.

Mirum Pharmaceuticals Price Performance

Shares of MIRM traded up $0.45 during trading hours on Wednesday, reaching $74.65. 930,389 shares of the stock traded hands, compared to its average volume of 837,848. 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, Inc. has a 52-week low of $36.86 and a 52-week high of $75.41. The company's 50-day moving average price is $56.19 and its two-hundred day moving average price is $48.90. The company has a market cap of $3.75 billion, a P/E ratio of -61.69 and a beta of 0.94.

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

About Mirum Pharmaceuticals

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.