Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Position Raised by Rhumbline Advisers

Rhumbline Advisers grew its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 48.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,916 shares of the company’s stock after purchasing an additional 17,279 shares during the period. Rhumbline Advisers owned approximately 0.11% of Mirum Pharmaceuticals worth $1,809,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MIRM. StepStone Group LP acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter valued at $135,000. Quest Partners LLC acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth about $194,000. NEOS Investment Management LLC acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth about $220,000. China Universal Asset Management Co. Ltd. grew its holdings in Mirum Pharmaceuticals by 66.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 8,952 shares of the company’s stock worth $225,000 after acquiring an additional 3,558 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Mirum Pharmaceuticals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock worth $439,000 after acquiring an additional 1,825 shares during the period.

Insider Activity at Mirum Pharmaceuticals

In other news, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the transaction, the insider now directly owns 27,406 shares in the company, valued at approximately $931,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.87% of the stock is owned by company insiders.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock opened at $38.96 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 3.28 and a quick ratio of 3.09. The stock has a fifty day moving average price of $40.82 and a two-hundred day moving average price of $32.02. Mirum Pharmaceuticals, Inc. has a 52-week low of $23.14 and a 52-week high of $45.23. The firm has a market capitalization of $1.84 billion, a P/E ratio of -10.50 and a beta of 1.14.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.05). The business had revenue of $77.90 million for the quarter, compared to the consensus estimate of $75.03 million. Mirum Pharmaceuticals had a negative return on equity of 43.47% and a negative net margin of 40.34%. Mirum Pharmaceuticals’s revenue for the quarter was up 107.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.92) EPS. As a group, analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Friday, July 26th. Robert W. Baird lifted their price target on Mirum Pharmaceuticals from $39.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Mirum Pharmaceuticals from $31.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Evercore ISI upped their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, JMP Securities upped their target price on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 18th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $56.27.

Mirum Pharmaceuticals Profile

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.