Mirum Pharmaceuticals, Inc. $MIRM Position Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 14.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,914 shares of the company’s stock after buying an additional 248 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Mirum Pharmaceuticals were worth $97,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Mirum Pharmaceuticals in the 1st quarter worth approximately $29,495,000. Federated Hermes Inc. lifted its stake in Mirum Pharmaceuticals by 9,440.4% during the first quarter. Federated Hermes Inc. now owns 347,366 shares of the company’s stock worth $15,649,000 after purchasing an additional 343,725 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in Mirum Pharmaceuticals by 3.4% in the first quarter. Frazier Life Sciences Management L.P. now owns 6,795,121 shares of the company’s stock worth $306,120,000 after purchasing an additional 224,729 shares during the period. Cubist Systematic Strategies LLC increased its stake in Mirum Pharmaceuticals by 253.6% during the first quarter. Cubist Systematic Strategies LLC now owns 296,887 shares of the company’s stock valued at $13,375,000 after purchasing an additional 212,918 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Mirum Pharmaceuticals by 783.9% during the first quarter. Russell Investments Group Ltd. now owns 229,449 shares of the company’s stock valued at $10,337,000 after purchasing an additional 203,489 shares during the last quarter.

Analyst Ratings Changes

MIRM has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Mirum Pharmaceuticals from $53.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Evercore ISI increased their price objective on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. TD Cowen raised shares of Mirum Pharmaceuticals to a “strong-buy” rating in a report on Thursday, September 25th. JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus set a $89.00 price target on Mirum Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Buy” and an average target price of $76.50.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM opened at $72.71 on Monday. Mirum Pharmaceuticals, Inc. has a one year low of $36.88 and a one year high of $78.54. The stock has a fifty day moving average of $70.73 and a 200-day moving average of $54.83. The company has a market capitalization of $3.65 billion, a PE ratio of -60.09 and a beta of 0.81. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The business had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $107.91 million. During the same period in the previous year, the firm posted ($0.52) EPS. The company’s quarterly revenue was up 64.1% on a year-over-year basis. As a group, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the transaction, the chief executive officer directly owned 138,641 shares of the company’s stock, valued at $8,595,742. This trade represents a 22.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jolanda Howe sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the transaction, the senior vice president directly owned 2,426 shares of the company’s stock, valued at $140,708. This represents a 80.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,578 shares of company stock worth $7,262,824 in the last quarter. 22.87% of the stock is currently owned by corporate 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.