Mirum Pharmaceuticals, Inc. $MIRM Holdings Increased by Woodline Partners LP

Key Points

• Woodline Partners LP increased its stake in Mirum Pharmaceuticals by 40.0%, acquiring an additional 161,867 shares to own a total of 566,271 shares valued at approximately $25.5 million.
• Mirum Pharmaceuticals reported a 64.1% increase in revenue year-over-year, with quarterly earnings beating estimates at ($0.12) per share against a consensus of ($0.31).
• Several analysts have recently adjusted their price targets for Mirum Pharmaceuticals, with Evercore ISI raising it from $77.00 to $89.00 and maintaining an "outperform" rating.

Woodline Partners LP lifted its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 40.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 566,271 shares of the company's stock after buying an additional 161,867 shares during the period. Woodline Partners LP owned approximately 1.14% of Mirum Pharmaceuticals worth $25,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Frazier Life Sciences Management L.P. increased its holdings in shares of Mirum Pharmaceuticals by 3.4% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company's stock worth $306,120,000 after buying an additional 224,729 shares during the last quarter. Vanguard Group Inc. grew its stake 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 worth $114,430,000 after acquiring an additional 115,327 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Mirum Pharmaceuticals by 46.7% in the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock worth $29,861,000 after acquiring an additional 229,746 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Mirum Pharmaceuticals during the 1st quarter worth $29,495,000. Finally, MPM Bioimpact LLC lifted its position in shares of Mirum Pharmaceuticals by 19.7% during the 4th quarter. MPM Bioimpact LLC now owns 589,579 shares of the company's stock worth $24,379,000 after purchasing an additional 96,856 shares during the last quarter.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 138,641 shares in the company, valued at $8,595,742. This represents a 22.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Eric Bjerkholt sold 9,578 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $76.01, for a total transaction of $728,023.78. Following the transaction, the chief financial officer owned 39,945 shares in the company, valued at $3,036,219.45. This trade represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,619 shares of company stock valued at $7,313,448. 22.87% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MIRM. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Evercore ISI upped their target price on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. 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. Finally, HC Wainwright upped their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and an average target price of $74.44.

Mirum Pharmaceuticals Trading Down 0.2%

Shares of Mirum Pharmaceuticals stock traded down $0.13 during trading hours on Monday, hitting $74.19. The company's stock had a trading volume of 126,661 shares, compared to its average volume of 522,900. Mirum Pharmaceuticals, Inc. has a 1-year low of $36.86 and a 1-year high of $78.10. The business has a fifty day moving average of $62.19 and a 200 day moving average of $50.92. The company has a market capitalization of $3.73 billion, a PE ratio of -61.36 and a beta of 0.92. The company has a quick ratio of 2.97, a current ratio of 3.13 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) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.19. The business had revenue of $127.79 million during 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 business's revenue was up 64.1% on a year-over-year basis. During the same period last year, the business earned ($0.52) EPS. As a group, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

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.