Wellington Management Group LLP trimmed its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,309,987 shares of the company's stock after selling 24,822 shares during the quarter. Wellington Management Group LLP owned about 2.02% of Mirum Pharmaceuticals worth $153,360,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of MIRM. Contravisory Investment Management Inc. boosted its holdings in shares of Mirum Pharmaceuticals by 2.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company's stock worth $539,000 after buying an additional 103 shares during the period. ABS Investment Management LLC acquired a new position in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $245,847,000. Faithward Advisors LLC increased its stake in shares of Mirum Pharmaceuticals by 0.5% during the first quarter. Faithward Advisors LLC now owns 27,467 shares of the company's stock worth $2,537,000 after purchasing an additional 126 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Mirum Pharmaceuticals by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company's stock worth $253,000 after purchasing an additional 200 shares during the period. Finally, Comerica Bank lifted its holdings in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after purchasing an additional 278 shares during the last quarter.
Insider Buying and Selling at Mirum Pharmaceuticals
In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 40,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was 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 $127,400. This represents a 96.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Peetz sold 20,000 shares of the firm's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $122.27, for a total value of $2,445,400.00. Following the completion of the sale, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $23,758,161.43. This represents a 9.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 103,156 shares of company stock worth $10,888,362 over the last three months. Corporate insiders own 8.32% of the company's stock.
Mirum Pharmaceuticals Price Performance
MIRM stock opened at $98.05 on Tuesday. The company's 50-day moving average price is $110.44 and its two-hundred day moving average price is $101.78. The firm has a market cap of $6.37 billion, a P/E ratio of -6.74 and a beta of 0.52. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 12 month low of $63.23 and a 12 month high of $130.00.
Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.32). The firm had revenue of $176.24 million for the quarter, compared to the consensus estimate 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 was up 37.9% on a year-over-year basis. During the same period last year, the company posted ($0.12) EPS. On average, analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.
Analysts Set New Price Targets
MIRM has been the topic of several research reports. Stifel Nicolaus set a $136.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Morgan Stanley set a $137.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 2nd. HC Wainwright lowered their target price on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Finally, Robert W. Baird set a $123.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.31.
Check Out Our Latest Stock Analysis on Mirum Pharmaceuticals
About Mirum Pharmaceuticals
(
Free Report)
Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.
Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.
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