8,859 Shares in Mirum Pharmaceuticals, Inc. $MIRM Acquired by AMI Asset Management Corp

AMI Asset Management Corp acquired a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the first quarter, HoldingsChannel reports. The institutional investor acquired 8,859 shares of the company’s stock, valued at approximately $818,000.

A number of other large investors have also added to or reduced their stakes in the stock. Comerica Bank grew its stake in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Mirum Pharmaceuticals by 307.3% in the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock worth $2,211,000 after purchasing an additional 37,028 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Mirum Pharmaceuticals by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock worth $1,176,000 after purchasing an additional 1,720 shares in the last quarter. Caxton Associates LLP bought a new position in Mirum Pharmaceuticals in the 1st quarter worth about $217,000. Finally, Empowered Funds LLC grew its position in Mirum Pharmaceuticals by 15.4% during the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock valued at $1,729,000 after purchasing an additional 5,120 shares during the last quarter.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $95.84, for a total value of $2,875,200.00. Following the transaction, the chief executive officer owned 194,309 shares of the company’s stock, valued at approximately $18,622,574.56. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 2,594 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $101.95, for a total value of $264,458.30. Following the completion of the transaction, the senior vice president directly owned 5,835 shares in the company, valued at $594,878.25. The trade was a 30.77% 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. Over the last 90 days, insiders have sold 37,594 shares of company stock valued at $3,608,758. 8.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MIRM has been the subject of a number of analyst reports. Raymond James Financial restated a “strong-buy” rating and set a $165.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Weiss Ratings cut shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. TD Cowen raised their price target on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley boosted their price objective on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Stifel Nicolaus set a $136.00 price objective on Mirum Pharmaceuticals in a research report on Thursday, May 7th. One 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.80.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $123.00 on Tuesday. The firm has a market cap of $7.50 billion, a PE ratio of -9.04 and a beta of 0.50. 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 firm has a fifty day simple moving average of $101.05 and a two-hundred day simple moving average of $94.37. Mirum Pharmaceuticals, Inc. has a 1-year low of $47.89 and a 1-year high of $125.39.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The firm had revenue of $159.88 million during the quarter, compared to analysts’ expectations of $148.21 million. During the same quarter last year, the business earned ($0.30) earnings per share. The business’s quarterly revenue was up 43.3% on a year-over-year basis. On average, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

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.