Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 26.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,511 shares of the company’s stock after selling 153,763 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Mirum Pharmaceuticals were worth $39,124,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at approximately $30,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $32,000. CIBC Private Wealth Group LLC purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $32,000. Quantbot Technologies LP purchased a new position in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $33,000. Finally, Quarry LP acquired a new stake in Mirum Pharmaceuticals in the 3rd quarter valued at approximately $41,000.

Mirum Pharmaceuticals Stock Down 4.8%

Mirum Pharmaceuticals stock opened at $117.12 on Wednesday. Mirum Pharmaceuticals, Inc. has a twelve month low of $47.89 and a twelve month high of $125.39. The stock’s fifty day simple moving average is $101.44 and its 200-day simple moving average is $94.74. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $7.14 billion, a P/E ratio of -8.61 and a beta of 0.50.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The company had revenue of $159.88 million during the quarter, compared to analysts’ expectations of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The company’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) earnings per share. As a group, equities analysts expect that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Eric Bjerkholt sold 5,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $93.82, for a total transaction of $469,100.00. Following the completion of the transaction, the chief financial officer directly owned 44,788 shares of the company’s stock, valued at approximately $4,202,010.16. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at $18,622,574.56. The trade was a 13.37% 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 37,594 shares of company stock worth $3,608,758 in the last quarter. 8.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MIRM. Evercore reissued an “outperform” rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Royal Bank Of Canada raised their price target on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. CLSA set a $146.00 price objective on Mirum Pharmaceuticals in a research note on Monday, June 15th. HC Wainwright reiterated a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Finally, Citizens Jmp increased their target price on Mirum Pharmaceuticals from $140.00 to $146.00 and gave the stock a “market outperform” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.80.

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.