Sierra Summit Advisors LLC Takes $966,000 Position in Mirum Pharmaceuticals, Inc. $MIRM

Sierra Summit Advisors LLC purchased a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,457 shares of the company’s stock, valued at approximately $966,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MIRM. Comerica Bank grew its stake in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares in the last quarter. AQR Capital Management LLC raised its stake in Mirum Pharmaceuticals by 307.3% in the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock worth $2,211,000 after purchasing an additional 37,028 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Mirum Pharmaceuticals by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock valued at $1,176,000 after purchasing an additional 1,720 shares during the period. Caxton Associates LLP bought a new stake in Mirum Pharmaceuticals in the 1st quarter valued at about $217,000. Finally, Empowered Funds LLC grew its position in shares of Mirum Pharmaceuticals by 15.4% during the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock worth $1,729,000 after purchasing an additional 5,120 shares in the last quarter.

Mirum Pharmaceuticals Price Performance

MIRM stock opened at $125.59 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 12 month low of $49.01 and a 12 month high of $125.75. The firm has a market cap of $7.66 billion, a P/E ratio of -9.23 and a beta of 0.48. The company’s 50-day moving average price is $102.58 and its two-hundred day moving average price is $95.56.

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

Analyst Ratings Changes

MIRM has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. CLSA set a $146.00 price target on Mirum Pharmaceuticals in a research note on Monday, June 15th. HC Wainwright reissued a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Finally, Wolfe Research began coverage on Mirum Pharmaceuticals in a report on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

Insiders Place Their Bets

In other news, CFO Eric Bjerkholt sold 5,000 shares of the business’s stock in a transaction on 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 sale, the chief executive officer owned 194,309 shares of the company’s stock, valued at approximately $18,622,574.56. This represents a 13.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,315 shares of company stock worth $3,935,278 over the last three months. Insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Company 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.