Mirum Pharmaceuticals, Inc. $MIRM Stock: Pictet Asset Management Holding SA Cuts Position

Pictet Asset Management Holding SA cut its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 509,195 shares of the company’s stock after selling 17,248 shares during the period. Pictet Asset Management Holding SA owned approximately 0.78% of Mirum Pharmaceuticals worth $43,526,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MIRM. Jupiter Topco LLC acquired a new position in Mirum Pharmaceuticals during the second quarter worth about $691,672,000. Janus Henderson Group PLC lifted its position in Mirum Pharmaceuticals by 14.5% during the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock worth $641,764,000 after buying an additional 880,505 shares during the period. BlackRock Inc. acquired a new stake in shares of Mirum Pharmaceuticals in the second quarter worth approximately $513,945,000. ABS Investment Management LLC acquired a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at $245,847,000. Finally, William Blair Investment Management LLC acquired a new stake in Mirum Pharmaceuticals during the second quarter worth about $164,453,000.

Mirum Pharmaceuticals Stock Performance

MIRM stock opened at $94.42 on Wednesday. The company has a 50-day simple moving average of $89.13 and a 200 day simple moving average of $98.46. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The company has a quick ratio of 1.98, a current ratio of 2.07 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.38). The company had revenue of $185.72 million during the quarter, compared to the consensus estimate of $178.07 million. Mirum Pharmaceuticals had a negative net margin of 134.75% and a negative return on equity of 97.25%. The business’s quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. As a group, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. Evercore restated an “outperform” rating and issued a $146.00 price target on shares of Mirum Pharmaceuticals in a research note on Tuesday, October 13th. Citizens Jmp upped their price objective on Mirum Pharmaceuticals from $144.00 to $167.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 4th. UBS Group set a $137.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.94.

Insider Transactions at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the completion of the sale, the chief executive officer directly owned 206,637 shares of the company’s stock, valued at approximately $18,597,330. This represents a 8.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 658 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.00, for a total transaction of $65,800.00. Following the completion of the sale, the senior vice president directly owned 616 shares of the company’s stock, valued at approximately $61,600. This represents a 51.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 90,658 shares of company stock worth $8,826,200 over the last 90 days. 8.32% of the stock is owned by insiders.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for rare liver and other serious diseases. Founded in 2018, the company works on therapies for conditions with limited treatment options. Its commercial products include Livmarli (maralixibat), an oral treatment for cholestatic pruritus associated with Alagille syndrome and, in the United States, progressive familial intrahepatic cholestasis. Mirum also markets Cholbam (cholic acid) for certain bile acid synthesis disorders and Chenodal (chenodiol) for cerebrotendinous xanthomatosis.