Reliant Investment Partners LLC Acquires New Position in Mirum Pharmaceuticals, Inc. $MIRM

Reliant Investment Partners LLC bought a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the second quarter, Holdings Channel reports. The firm bought 5,975 shares of the company’s stock, valued at approximately $699,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $30,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $32,000. CIBC Private Wealth Group LLC acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $32,000. Quantbot Technologies LP acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at $33,000. Finally, Comerica Bank boosted its stake in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. CLSA set a $146.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Stifel Nicolaus set a $136.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Wolfe Research initiated coverage on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price target for the company. HC Wainwright cut their target price on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Citigroup reissued an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.33.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the sale, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $18,622,574.56. The trade was a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 133,156 shares of company stock valued at $13,763,562 in the last ninety days. Corporate insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $97.07 on Friday. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of -6.67 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The firm’s fifty day moving average price is $111.26 and its 200 day moving average price is $101.98. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). The firm had revenue of $176.24 million during the quarter, compared to analyst estimates 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 for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) EPS. On average, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Mirum Pharmaceuticals Company 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.