Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 865,967 shares of the company’s stock after selling 137,836 shares during the period. Clearbridge Investments LLC’s holdings in Mirum Pharmaceuticals were worth $68,403,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth approximately $1,478,000. Candriam S.C.A. boosted its position in shares of Mirum Pharmaceuticals by 8.0% in the third quarter. Candriam S.C.A. now owns 403,026 shares of the company’s stock worth $29,546,000 after acquiring an additional 30,021 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $22,041,000. TD Asset Management Inc acquired a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $1,129,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $503,000.

Mirum Pharmaceuticals Trading Up 0.1%

NASDAQ MIRM opened at $93.58 on Tuesday. The company’s fifty day simple moving average is $97.38 and its 200-day simple moving average is $90.52. Mirum Pharmaceuticals, Inc. has a 52 week low of $45.37 and a 52 week high of $114.99. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The stock has a market cap of $5.71 billion, a P/E ratio of -6.88 and a beta of 0.50.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The firm had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The company’s revenue for the quarter was up 43.3% on a year-over-year basis. Equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MIRM. Morgan Stanley lifted their price target on shares of Mirum Pharmaceuticals from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Robert W. Baird lifted their price target on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Leerink Partners reduced their price target on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Weiss Ratings cut shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.64.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 40,985 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the transaction, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at approximately $17,872,541.82. The trade was a 17.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joanne Quan sold 7,287 shares of the business’s 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 transaction, 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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 106,806 shares of company stock valued at $9,939,816. 8.32% of the stock is owned by company insiders.

Mirum Pharmaceuticals Company Profile

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.