Rice Hall James & Associates LLC Makes New Investment in Mirum Pharmaceuticals, Inc. $MIRM

Rice Hall James & Associates LLC acquired a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 110,673 shares of the company’s stock, valued at approximately $12,956,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock worth $641,764,000 after purchasing an additional 880,505 shares during the period. Vanguard Group Inc. raised its holdings in Mirum Pharmaceuticals by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock valued at $205,065,000 after buying an additional 50,720 shares during the period. State Street Corp lifted its position in Mirum Pharmaceuticals by 59.2% during the fourth quarter. State Street Corp now owns 2,143,992 shares of the company’s stock valued at $169,354,000 after buying an additional 797,088 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Mirum Pharmaceuticals by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company’s stock valued at $112,196,000 after buying an additional 137,087 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Mirum Pharmaceuticals by 56.6% during the fourth quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company’s stock worth $97,776,000 after buying an additional 447,141 shares during the period.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 20,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $98.92, for a total value of $1,978,400.00. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at $19,221,046.28. This represents a 9.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the transaction, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at approximately $3,631,864.50. The trade was a 14.17% 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 have sold 93,156 shares of company stock valued at $9,763,562 in the last quarter. Company insiders own 8.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MIRM shares. Weiss Ratings raised shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Raymond James Financial restated a “strong-buy” rating and set a $165.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday. Stifel Nicolaus set a $136.00 price target on Mirum Pharmaceuticals in a report on Thursday, May 7th. Finally, Morgan Stanley set a $137.00 price objective on Mirum Pharmaceuticals in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

Mirum Pharmaceuticals Stock Down 0.8%

Shares of NASDAQ:MIRM opened at $99.83 on Tuesday. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 52-week low of $63.23 and a 52-week high of $130.00. The company has a 50 day moving average of $111.04 and a two-hundred day moving average of $102.03. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of -6.86 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results 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 for the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The company’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. As a group, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

About Mirum Pharmaceuticals

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.