Silvercrest Asset Management Group LLC Cuts Stock Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Silvercrest Asset Management Group LLC cut its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 136,700 shares of the company’s stock after selling 1,347 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Mirum Pharmaceuticals were worth $5,653,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MIRM. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $35,000. ProShare Advisors LLC grew its holdings in Mirum Pharmaceuticals by 31.5% in the fourth quarter. ProShare Advisors LLC now owns 13,457 shares of the company’s stock worth $556,000 after purchasing an additional 3,227 shares during the last quarter. MPM Bioimpact LLC increased its position in shares of Mirum Pharmaceuticals by 19.7% during the fourth quarter. MPM Bioimpact LLC now owns 589,579 shares of the company’s stock worth $24,379,000 after purchasing an additional 96,856 shares in the last quarter. Patient Square Capital LP acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $2,684,000. Finally, Man Group plc purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at $289,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MIRM. HC Wainwright boosted their target price on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Robert W. Baird boosted their price target on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. JMP Securities upped their price objective on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a “market outperform” rating in a report on Friday, May 9th. Finally, Raymond James reiterated a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $60.64.

Mirum Pharmaceuticals Stock Down 0.6%

Shares of NASDAQ MIRM opened at $45.01 on Monday. The company has a market capitalization of $2.23 billion, a P/E ratio of -22.28 and a beta of 0.95. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The company has a 50 day simple moving average of $42.96 and a 200-day simple moving average of $44.51. Mirum Pharmaceuticals, Inc. has a 1 year low of $23.83 and a 1 year high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company had revenue of $111.59 million during the quarter, compared to analysts’ expectations of $98.47 million. During the same quarter last year, the firm earned ($0.54) earnings per share. The firm’s quarterly revenue was up 61.2% compared to the same quarter last year. On average, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Patrick J. Heron bought 1,335 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $45.57 per share, with a total value of $60,835.95. Following the completion of the purchase, the director now directly owns 163,643 shares in the company, valued at $7,457,211.51. This represents a 0.82% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Peter Radovich sold 7,879 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.21, for a total transaction of $348,330.59. Following the sale, the chief operating officer now owns 18,672 shares of the company’s stock, valued at approximately $825,489.12. This represents a 29.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,764 shares of company stock valued at $4,109,161. 14.36% of the stock is currently owned by insiders.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.