First Trust Advisors LP Has $13.97 Million Holdings in Mirum Pharmaceuticals, Inc. $MIRM

First Trust Advisors LP boosted its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 9.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 151,272 shares of the company’s stock after acquiring an additional 13,572 shares during the quarter. First Trust Advisors LP’s holdings in Mirum Pharmaceuticals were worth $13,975,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MIRM. Cullen Frost Bankers Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth approximately $30,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at approximately $32,000. CIBC Private Wealth Group LLC purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at approximately $32,000. Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals during the third quarter worth $33,000. Finally, Comerica Bank grew its holdings in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after buying an additional 278 shares in the last quarter.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM opened at $112.59 on Friday. The company has a market cap of $6.87 billion, a PE ratio of -8.27 and a beta of 0.48. Mirum Pharmaceuticals, Inc. has a 52 week low of $50.25 and a 52 week high of $130.00. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The firm’s 50-day simple moving average is $109.92 and its two-hundred day simple moving average is $101.37.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business had revenue of $159.88 million during the quarter, compared to analysts’ expectations of $148.21 million. During the same quarter in the previous year, the business earned ($0.30) EPS. Mirum Pharmaceuticals’s revenue for the quarter was up 43.3% on a year-over-year basis. Research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $122.27, for a total value of $2,445,400.00. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at approximately $23,758,161.43. This trade represents a 9.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 2,721 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total transaction of $326,520.00. Following the sale, the senior vice president directly owned 3,114 shares in the company, valued at $373,680. The trade was a 46.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 65,315 shares of company stock worth $6,991,928. 8.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MIRM shares. JPMorgan Chase & Co. raised their price objective on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Morgan Stanley upped their target price on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. TD Cowen increased their target price on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada increased their target price on shares of Mirum Pharmaceuticals from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $143.40.

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.