PSP Research LLC Invests $541,000 in Mirum Pharmaceuticals, Inc. $MIRM

PSP Research LLC acquired a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,854 shares of the company’s stock, valued at approximately $541,000. Mirum Pharmaceuticals makes up 0.5% of PSP Research LLC’s investment portfolio, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth $30,000. Covestor Ltd increased its stake in shares of Mirum Pharmaceuticals by 3,022.0% in the 4th quarter. Covestor Ltd now owns 1,280 shares of the company’s stock worth $101,000 after purchasing an additional 1,239 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth $16,864,000. TimesSquare Capital Management LLC increased its stake in Mirum Pharmaceuticals by 31.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 395,827 shares of the company’s stock worth $31,266,000 after buying an additional 95,178 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Mirum Pharmaceuticals by 257.6% in the 4th quarter. Profund Advisors LLC now owns 27,091 shares of the company’s stock worth $2,140,000 after buying an additional 19,515 shares in the last quarter.

Mirum Pharmaceuticals Stock Up 0.2%

Shares of NASDAQ:MIRM opened at $95.65 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 12 month low of $42.89 and a 12 month high of $114.99. The company has a 50-day moving average price of $95.71 and a 200 day moving average price of $87.97. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -7.03 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The business had revenue of $159.88 million during the quarter, compared to the consensus estimate of $148.21 million. During the same period in the previous year, the business posted ($0.30) EPS. The firm’s revenue was up 43.3% on a year-over-year basis. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MIRM shares. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Evercore reiterated an “outperform” rating and issued a $138.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. HC Wainwright set a $185.00 price target on Mirum Pharmaceuticals in a research note on Thursday, May 7th. Morgan Stanley increased their price target on Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $132.00 price target on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 21st. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.08.

Insider Transactions at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 4,732 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $435,249.36. Following the completion of the transaction, the senior vice president owned 8,429 shares of the company’s stock, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Peter Radovich sold 16,515 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $1,519,049.70. Following the completion of the sale, the chief operating officer directly owned 40,272 shares of the company’s stock, valued at approximately $3,704,218.56. The trade was a 29.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 76,806 shares of company stock worth $7,064,616 in the last quarter. Company insiders own 22.87% of the company’s stock.

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.