Jupiter Topco LLC Acquires Shares of 5,909,184 Mirum Pharmaceuticals, Inc. $MIRM

Jupiter Topco LLC bought a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,909,184 shares of the company’s stock, valued at approximately $691,672,000. Jupiter Topco LLC owned 9.10% of Mirum Pharmaceuticals as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. ABS Investment Management LLC purchased a new stake in Mirum Pharmaceuticals during the 2nd quarter worth approximately $245,847,000. Quantbot Technologies LP acquired a new stake in shares of Mirum Pharmaceuticals in the second quarter worth approximately $44,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth approximately $30,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth approximately $32,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth about $32,000.

Insider Buying and Selling

In other news, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $95.84, for a total value of $2,875,200.00. Following the transaction, the chief executive officer owned 194,309 shares of the company’s stock, valued at $18,622,574.56. This represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total value of $4,000,000.00. Following the transaction, the senior vice president owned 1,274 shares of the company’s stock, valued at approximately $127,400. This represents a 96.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 133,156 shares of company stock worth $13,763,562. Company insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $98.08 on Wednesday. The company’s 50-day moving average is $111.04 and its two-hundred day moving average is $101.82. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of -6.74 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (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 firm’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) EPS. Analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

MIRM has been the subject of a number of recent research reports. Royal Bank Of Canada cut their price objective on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Robert W. Baird set a $123.00 target price on Mirum Pharmaceuticals in a report on Thursday, August 6th. Wall Street Zen lowered Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Morgan Stanley set a $137.00 price target on Mirum Pharmaceuticals in a report on Thursday, August 6th. Finally, CLSA set a $146.00 price objective on Mirum Pharmaceuticals in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.33.

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.