Boone Capital Management LLC acquired a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 415,641 shares of the company’s stock, valued at approximately $48,659,000. Mirum Pharmaceuticals accounts for 11.4% of Boone Capital Management LLC’s investment portfolio, making the stock its 2nd largest position.
A number of other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC increased its position in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after purchasing an additional 880,505 shares during the last quarter. Jupiter Topco LLC purchased a new stake in Mirum Pharmaceuticals during the second quarter worth about $691,672,000. BlackRock Inc. bought a new stake in Mirum Pharmaceuticals in the second quarter worth about $513,945,000. Vanguard Group Inc. boosted its stake in Mirum Pharmaceuticals by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock valued at $205,065,000 after acquiring an additional 50,720 shares during the last quarter. Finally, State Street Corp grew its position in shares of Mirum Pharmaceuticals by 59.2% during the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock valued at $169,354,000 after acquiring an additional 797,088 shares during the period.
Mirum Pharmaceuticals Stock Performance
Mirum Pharmaceuticals stock opened at $98.51 on Thursday. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average of $110.97 and a 200-day moving average of $101.83. The firm has a market cap of $6.40 billion, a P/E ratio of -6.77 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00.
Insiders Place Their Bets
In related news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the transaction, the chief financial officer owned 36,355 shares in the company, valued at $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total value of $4,000,000.00. Following the transaction, the senior vice president owned 1,274 shares of the company’s stock, valued at approximately $127,400. This represents a 96.91% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 133,156 shares of company stock worth $13,763,562. 8.32% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities analysts recently commented on MIRM shares. Citizens Jmp dropped their price objective on Mirum Pharmaceuticals from $146.00 to $137.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 6th. Morgan Stanley set a $137.00 target price on Mirum Pharmaceuticals in a research report on Thursday, August 6th. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. Robert W. Baird set a $123.00 price target on Mirum Pharmaceuticals in a report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.33.
Read Our Latest Stock Report on MIRM
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.
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