Mirum Pharmaceuticals, Inc. $MIRM Stake Boosted by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. lifted its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,795,121 shares of the company’s stock after buying an additional 224,729 shares during the period. Mirum Pharmaceuticals makes up about 14.0% of Frazier Life Sciences Management L.P.’s investment portfolio, making the stock its 2nd biggest position. Frazier Life Sciences Management L.P. owned approximately 13.72% of Mirum Pharmaceuticals worth $306,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Mirum Pharmaceuticals by 259.4% in the 1st quarter. CWM LLC now owns 593 shares of the company’s stock worth $27,000 after buying an additional 428 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth $35,000. Comerica Bank boosted its stake in shares of Mirum Pharmaceuticals by 45.1% in 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 last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth $42,000. Finally, Quarry LP purchased a new stake in shares of Mirum Pharmaceuticals in the 1st quarter worth $56,000.

Analyst Ratings Changes

MIRM has been the subject of several analyst reports. JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. HC Wainwright upped their price objective on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Raymond James Financial restated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. Evercore ISI upped their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Wall Street Zen lowered Mirum Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $74.13.

Insiders Place Their Bets

In related news, CEO Christopher Peetz sold 40,000 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the transaction, the chief executive officer directly owned 138,641 shares of the company’s stock, valued at approximately $8,595,742. This trade represents a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jolanda Howe sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the senior vice president directly owned 2,426 shares of the company’s stock, valued at $140,708. The trade was a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,041 shares of company stock worth $5,320,624. 22.87% of the stock is owned by corporate insiders.

Mirum Pharmaceuticals Stock Down 2.2%

MIRM opened at $73.87 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $36.86 and a fifty-two week high of $75.74. The firm’s fifty day moving average is $57.62 and its 200 day moving average is $49.38. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -61.05 and a beta of 0.92.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $107.91 million. During the same quarter in the previous year, the company earned ($0.52) EPS. Mirum Pharmaceuticals’s revenue for the quarter was up 64.1% on a year-over-year basis. On average, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

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.