415,641 Shares in Mirum Pharmaceuticals, Inc. $MIRM Bought by Boone Capital Management LLC

Boone Capital Management LLC purchased a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 415,641 shares of the company’s stock, valued at approximately $48,659,000. Mirum Pharmaceuticals accounts for approximately 11.4% of Boone Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Boone Capital Management LLC owned about 0.64% of Mirum Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth about $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at about $32,000. CIBC Private Wealth Group LLC bought a new stake in Mirum Pharmaceuticals in the 4th quarter valued at about $32,000. Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals in the 3rd quarter valued at about $33,000. Finally, Comerica Bank raised its stake in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after buying an additional 278 shares during the period.

Insider Activity

In related news, CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $98.92, for a total transaction of $1,978,400.00. Following the transaction, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at $19,221,046.28. This trade represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the transaction, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. The trade was a 14.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 133,156 shares of company stock worth $13,763,562 over the last quarter. Insiders own 8.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on MIRM shares. Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 6th. Royal Bank Of Canada decreased their price objective on Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Robert W. Baird set a $123.00 target price on Mirum Pharmaceuticals in a research report on Thursday, August 6th. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. One investment 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’s stock. Based on data from MarketBeat, Mirum Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $137.33.

Mirum Pharmaceuticals Trading Up 0.4%

Shares of Mirum Pharmaceuticals stock opened at $98.51 on Thursday. The stock has a fifty day simple moving average of $110.97 and a 200 day simple moving average of $101.83. Mirum Pharmaceuticals, Inc. has a 12-month low of $63.23 and a 12-month high of $130.00. The company has a market capitalization of $6.40 billion, a P/E ratio of -6.77 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 (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The company had revenue of $176.24 million for 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%. Mirum Pharmaceuticals’s revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) earnings per share. On average, sell-side analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

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.