PSP Research LLC Makes New $541,000 Investment in Mirum Pharmaceuticals, Inc. $MIRM

PSP Research LLC acquired a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the 4th quarter, HoldingsChannel reports. The fund acquired 6,854 shares of the company’s stock, valued at approximately $541,000. Mirum Pharmaceuticals accounts for about 0.5% of PSP Research LLC’s holdings, making the stock its 21st biggest position.

Several other institutional investors have also added to or reduced their stakes in MIRM. Cullen Frost Bankers Inc. bought a new stake in Mirum Pharmaceuticals in the fourth quarter worth about $30,000. MCF Advisors LLC increased its position in shares of Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares during the period. Quantbot Technologies LP purchased a new position in shares of Mirum Pharmaceuticals during the third quarter worth approximately $33,000. Comerica Bank increased its position in shares of Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares during the period. Finally, Quarry LP purchased a new position in shares of Mirum Pharmaceuticals during the third quarter worth approximately $41,000.

Insider Buying and Selling

In other news, insider Joanne Quan sold 7,287 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $670,258.26. Following the completion of the sale, the insider directly owned 18,864 shares in the company, valued at approximately $1,735,110.72. The trade was a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Eric Bjerkholt sold 7,287 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $670,258.26. Following the sale, the chief financial officer owned 49,788 shares of the company’s stock, valued at $4,579,500.24. The trade was a 12.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 76,806 shares of company stock valued at $7,064,616 over the last quarter. Insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $95.65 on Wednesday. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -7.03 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a twelve month low of $42.89 and a twelve month high of $114.99. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The company has a 50 day moving average of $95.71 and a two-hundred day moving average of $87.97.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The firm had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. Mirum Pharmaceuticals’s revenue was up 43.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.30) earnings per share. As a group, analysts predict that Mirum Pharmaceuticals, Inc. will post -2.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MIRM. Evercore reaffirmed an “outperform” rating and set a $138.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Stifel Nicolaus set a $136.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Wolfe Research began coverage on shares of Mirum Pharmaceuticals in a research report on Tuesday. They set an “outperform” rating and a $145.00 target price on the stock. Morgan Stanley raised their target price on shares of Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their target price on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $137.08.

About Mirum Pharmaceuticals

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.