Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Mirum Pharmaceuticals, Inc. $MIRM

Mirae Asset Global Investments Co. Ltd. raised its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 14.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,914 shares of the company’s stock after buying an additional 248 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Mirum Pharmaceuticals were worth $97,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MIRM. CWM LLC boosted its position in shares of Mirum Pharmaceuticals by 259.4% in the first quarter. CWM LLC now owns 593 shares of the company’s stock worth $27,000 after acquiring an additional 428 shares during the last quarter. Comerica Bank boosted its holdings in shares of Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the last quarter. Quarry LP purchased a new stake in shares of Mirum Pharmaceuticals during the 1st quarter valued at $56,000. KBC Group NV purchased a new stake in shares of Mirum Pharmaceuticals during the 1st quarter valued at $89,000. Finally, Avanza Fonder AB increased its holdings in shares of Mirum Pharmaceuticals by 44.3% during the 2nd quarter. Avanza Fonder AB now owns 4,154 shares of the company’s stock worth $211,000 after buying an additional 1,276 shares during the last quarter.

Insiders Place Their Bets

In related news, CFO Eric Bjerkholt sold 9,578 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $76.01, for a total value of $728,023.78. Following the completion of the transaction, the chief financial officer owned 39,945 shares of the company’s stock, valued at approximately $3,036,219.45. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Laura Brege sold 17,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total value of $1,264,800.00. Following the sale, the director owned 15,703 shares in the company, valued at $1,168,303.20. This represents a 51.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,578 shares of company stock worth $7,262,824. 22.87% of the stock is owned by insiders.

Mirum Pharmaceuticals Trading Down 1.5%

NASDAQ MIRM opened at $72.71 on Monday. The company’s fifty day simple moving average is $70.73 and its 200-day simple moving average is $54.83. The stock has a market cap of $3.65 billion, a P/E ratio of -60.09 and a beta of 0.81. Mirum Pharmaceuticals, Inc. has a 52 week low of $36.88 and a 52 week high of $78.54. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The firm had revenue of $127.79 million for the quarter, compared to the consensus estimate of $107.91 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. The firm’s quarterly revenue was up 64.1% on a year-over-year basis. Equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research report on Wednesday, October 8th. JMP Securities set a $81.00 target price on shares of Mirum Pharmaceuticals and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Cowen began coverage on shares of Mirum Pharmaceuticals in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Stifel Nicolaus set a $89.00 price objective on shares of Mirum Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, Evercore ISI raised their target price on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $76.50.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.