PDT Partners LLC Increases Stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

PDT Partners LLC grew its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 188.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,712 shares of the company’s stock after purchasing an additional 74,349 shares during the quarter. PDT Partners LLC’s holdings in Mirum Pharmaceuticals were worth $4,435,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quest Partners LLC boosted its position in Mirum Pharmaceuticals by 7,513.3% during the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after acquiring an additional 1,127 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Mirum Pharmaceuticals by 60.8% during the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock valued at $67,000 after purchasing an additional 318 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at approximately $213,000. Finally, Creative Planning acquired a new stake in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $249,000.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $46.22 on Friday. Mirum Pharmaceuticals, Inc. has a one year low of $23.14 and a one year high of $48.89. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The firm’s 50 day moving average price is $40.93 and its 200-day moving average price is $37.31. The firm has a market cap of $2.22 billion, a P/E ratio of -22.88 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company had revenue of $90.38 million for the quarter, compared to analysts’ expectations of $81.99 million. During the same period in the prior year, the firm earned ($0.57) earnings per share. The firm’s revenue was up 89.4% compared to the same quarter last year. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the sale, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at $114,264.60. This represents a 50.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MIRM. Evercore ISI upped their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Cantor Fitzgerald upped their price objective on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Citigroup boosted their target price on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $57.73.

Mirum Pharmaceuticals Company Profile

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.