Sierra Summit Advisors LLC Purchases New Position in Mirum Pharmaceuticals, Inc. $MIRM

Sierra Summit Advisors LLC acquired a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 10,457 shares of the company’s stock, valued at approximately $966,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at approximately $30,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $32,000. CIBC Private Wealth Group LLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $32,000. Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at $33,000. Finally, Quarry LP bought a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at $41,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MIRM. Robert W. Baird boosted their price objective on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. CLSA set a $146.00 target price on Mirum Pharmaceuticals in a research report on Monday, June 15th. Citizens Jmp lifted their price target on Mirum Pharmaceuticals from $140.00 to $146.00 and gave the company a “market outperform” rating in a research note on Monday, June 15th. Raymond James Financial restated a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Finally, HC Wainwright restated a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $143.00.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM opened at $125.59 on Friday. The firm has a market cap of $7.66 billion, a PE ratio of -9.23 and a beta of 0.48. The firm’s fifty day moving average is $102.58 and its 200-day moving average is $95.56. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. Mirum Pharmaceuticals, Inc. has a 52 week low of $49.01 and a 52 week high of $125.75.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The company 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%. The business’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.30) earnings per share. Sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,721 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $120.00, for a total transaction of $326,520.00. Following the completion of the transaction, the senior vice president directly owned 3,114 shares in the company, valued at $373,680. This trade represents a 46.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $95.84, for a total value of $2,875,200.00. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $18,622,574.56. This represents a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 40,315 shares of company stock worth $3,935,278. Insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals 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.