Jupiter Topco LLC Invests $691.67 Million in Mirum Pharmaceuticals, Inc. $MIRM

Jupiter Topco LLC acquired a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,909,184 shares of the company’s stock, valued at approximately $691,672,000. Jupiter Topco LLC owned 0.09% of Mirum Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank raised its position in Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the period. AQR Capital Management LLC boosted its position in shares of Mirum Pharmaceuticals by 307.3% during the first quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock worth $2,211,000 after buying an additional 37,028 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Mirum Pharmaceuticals by 7.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock worth $1,176,000 after buying an additional 1,720 shares during the period. Caxton Associates LLP acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at $217,000. Finally, Empowered Funds LLC grew its stake in shares of Mirum Pharmaceuticals by 15.4% in the first quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock valued at $1,729,000 after buying an additional 5,120 shares in the last quarter.

Mirum Pharmaceuticals Stock Up 1.4%

Mirum Pharmaceuticals stock opened at $98.08 on Wednesday. The firm has a market capitalization of $6.37 billion, a P/E ratio of -6.74 and a beta of 0.52. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a twelve month low of $63.23 and a twelve month high of $130.00. The stock’s fifty day simple moving average is $111.04 and its 200-day simple moving average is $101.82.

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

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the transaction, the chief financial officer owned 36,355 shares in the company, valued at approximately $3,631,864.50. This trade represents a 14.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 20,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $98.92, for a total value of $1,978,400.00. Following the transaction, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at approximately $19,221,046.28. This represents a 9.33% 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. Insiders have sold 133,156 shares of company stock valued at $13,763,562 in the last quarter. Corporate insiders own 8.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MIRM shares. Wolfe Research began coverage on Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an “outperform” rating and a $145.00 target price on the stock. Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. Citizens Jmp cut their price target on shares of Mirum Pharmaceuticals from $146.00 to $137.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 6th. Robert W. Baird set a $123.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. Finally, Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.33.

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.