Mirum Pharmaceuticals, Inc. $MIRM Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,272 shares of the company’s stock after acquiring an additional 13,572 shares during the quarter. First Trust Advisors LP owned approximately 0.25% of Mirum Pharmaceuticals worth $13,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MIRM. SG Americas Securities LLC acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth $1,478,000. Nan Fung Trinity HK Ltd. grew its holdings in shares of Mirum Pharmaceuticals by 45.6% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 227,479 shares of the company’s stock worth $17,969,000 after purchasing an additional 71,214 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $1,283,000. Hillsdale Investment Management Inc. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $3,762,000. Finally, Emerald Advisers LLC raised its holdings in Mirum Pharmaceuticals by 8.2% in the 1st quarter. Emerald Advisers LLC now owns 397,263 shares of the company’s stock valued at $36,699,000 after buying an additional 30,129 shares during the last quarter.

Mirum Pharmaceuticals Trading Up 4.7%

NASDAQ:MIRM opened at $112.59 on Friday. 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 stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of -8.27 and a beta of 0.48. The firm has a fifty day simple moving average of $109.92 and a two-hundred day simple moving average of $101.37. Mirum Pharmaceuticals, Inc. has a 12 month low of $50.25 and a 12 month high of $130.00.

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

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,721 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $120.00, for a total transaction of $326,520.00. Following the transaction, the senior vice president directly owned 3,114 shares of the company’s stock, valued at $373,680. This represents a 46.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $122.25, for a total value of $611,250.00. Following the completion of the transaction, the chief financial officer owned 42,181 shares in the company, valued at approximately $5,156,627.25. This represents a 10.60% 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 sold 65,315 shares of company stock valued at $6,991,928 in the last three months. Corporate insiders own 8.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada raised their target price on Mirum Pharmaceuticals from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Morgan Stanley lifted their target price on Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Stifel Nicolaus set a $136.00 price target on Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Weiss Ratings cut Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.40.

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.