Seven Fleet Capital Management LP Takes Position in Mirum Pharmaceuticals, Inc. $MIRM

Seven Fleet Capital Management LP acquired a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the second quarter, Holdings Channel reports. The firm acquired 110,393 shares of the company’s stock, valued at approximately $12,924,000. Mirum Pharmaceuticals comprises 2.1% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 9th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank lifted its position in Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the period. AQR Capital Management LLC increased its position in shares of Mirum Pharmaceuticals by 307.3% during the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock valued at $2,211,000 after purchasing an additional 37,028 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mirum Pharmaceuticals by 7.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock valued at $1,176,000 after purchasing an additional 1,720 shares during the period. Caxton Associates LLP acquired a new stake in shares of Mirum Pharmaceuticals in the first quarter valued at $217,000. Finally, Empowered Funds LLC boosted its stake in Mirum Pharmaceuticals by 15.4% during the first quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock valued at $1,729,000 after buying an additional 5,120 shares in the last quarter.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 658 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total transaction of $65,800.00. Following the transaction, the senior vice president directly owned 616 shares in the company, valued at approximately $61,600. The trade was a 51.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the sale, the chief executive officer directly owned 194,440 shares in the company, valued at approximately $19,187,339.20. This trade represents a 13.37% decrease in their ownership of the stock. 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 90 days, insiders sold 133,814 shares of company stock worth $13,914,562. 8.32% of the stock is owned by corporate insiders.

Mirum Pharmaceuticals Trading Up 0.3%

Shares of MIRM opened at $100.90 on Friday. The business’s 50-day moving average price is $109.09 and its 200 day moving average price is $101.73. The stock has a market capitalization of $6.55 billion, a P/E ratio of -6.93 and a beta of 0.49. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted 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). Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The firm had revenue of $176.24 million for the quarter, compared to analysts’ expectations of $166.33 million. During the same period in the prior year, the company posted ($0.12) earnings per share. Mirum Pharmaceuticals’s quarterly revenue was up 37.9% compared to the same quarter last year. Analysts expect that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MIRM shares. UBS Group set a $137.00 target price on Mirum Pharmaceuticals in a report on Thursday, August 27th. Royal Bank Of Canada reduced their price objective on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. TD Cowen dropped their target price on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Finally, Wolfe Research began coverage on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.31.

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.