Lisanti Capital Growth LLC Takes Position in Mirum Pharmaceuticals, Inc. $MIRM

Lisanti Capital Growth LLC purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 63,295 shares of the company’s stock, valued at approximately $7,410,000. Mirum Pharmaceuticals comprises about 1.6% of Lisanti Capital Growth LLC’s holdings, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MIRM. Great Lakes Advisors LLC bought a new stake in Mirum Pharmaceuticals during the 2nd quarter worth about $757,000. BlackRock Inc. bought a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at about $513,945,000. Deutsche Bank AG acquired a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter worth approximately $9,551,000. Rice Hall James & Associates LLC acquired a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter worth approximately $12,956,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Mirum Pharmaceuticals during the second quarter worth approximately $42,998,000.

Insider Activity

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the transaction, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $18,622,574.56. The trade was a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total value of $4,000,000.00. Following the completion of the transaction, the senior vice president directly owned 1,274 shares of the company’s stock, valued at approximately $127,400. The trade was a 96.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 133,156 shares of company stock valued at $13,763,562 in the last quarter. Company insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Stock Up 1.4%

Mirum Pharmaceuticals stock opened at $102.24 on Thursday. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of -7.03 and a beta of 0.52. The company’s 50 day simple moving average is $111.31 and its 200 day simple moving average is $102.02. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The firm had revenue of $176.24 million during the quarter, compared to the consensus estimate of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) EPS. As a group, sell-side analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MIRM. TD Cowen cut their price objective on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. Royal Bank Of Canada cut their price target on Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.33.

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.