Patient Square Capital LP Invests $2.68 Million in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Patient Square Capital LP purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 64,900 shares of the company's stock, valued at approximately $2,684,000. Mirum Pharmaceuticals makes up about 1.0% of Patient Square Capital LP's investment portfolio, making the stock its 16th biggest holding. Patient Square Capital LP owned about 0.14% of Mirum Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in Mirum Pharmaceuticals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock worth $30,000 after acquiring an additional 357 shares in the last quarter. R Squared Ltd acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth about $69,000. AlphaQuest LLC raised its stake in Mirum Pharmaceuticals by 969.6% during the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock worth $76,000 after acquiring an additional 1,658 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in Mirum Pharmaceuticals by 8.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock worth $172,000 after acquiring an additional 312 shares in the last quarter. Finally, Avanza Fonder AB acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth about $189,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on MIRM. Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. HC Wainwright boosted their price target on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Raymond James restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Tuesday, May 13th. Finally, JMP Securities boosted their price target on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $60.64.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM traded down $0.27 during trading hours on Friday, hitting $45.01. The company had a trading volume of 219,847 shares, compared to its average volume of 524,834. Mirum Pharmaceuticals, Inc. has a 52 week low of $23.83 and a 52 week high of $54.23. The firm has a 50 day simple moving average of $42.96 and a 200 day simple moving average of $44.47. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -22.28 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm had revenue of $111.59 million for the quarter, compared to analysts' expectations of $98.47 million. During the same quarter last year, the firm posted ($0.54) EPS. The company's revenue was up 61.2% compared to the same quarter last year. Equities research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, Director Patrick J. Heron bought 1,335 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $45.57 per share, for a total transaction of $60,835.95. Following the completion of the acquisition, the director now owns 163,643 shares of the company's stock, valued at approximately $7,457,211.51. This trade represents a 0.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Peter Radovich sold 7,879 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $348,330.59. Following the completion of the transaction, the chief operating officer now owns 18,672 shares in the company, valued at $825,489.12. This represents a 29.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,764 shares of company stock valued at $4,109,161 in the last 90 days. Corporate insiders own 14.36% of the company's stock.

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.