Bank of New York Mellon Corp Acquires 18,944 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Bank of New York Mellon Corp boosted its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 584,523 shares of the company’s stock after buying an additional 18,944 shares during the quarter. Bank of New York Mellon Corp’s holdings in Mirum Pharmaceuticals were worth $53,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hillsdale Investment Management Inc. raised its stake in Mirum Pharmaceuticals by 25.4% during the first quarter. Hillsdale Investment Management Inc. now owns 59,730 shares of the company’s stock worth $5,518,000 after acquiring an additional 12,100 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Mirum Pharmaceuticals by 3.3% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 250,399 shares of the company’s stock valued at $23,132,000 after purchasing an additional 8,079 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of Mirum Pharmaceuticals by 8.2% during the 1st quarter. Emerald Advisers LLC now owns 397,263 shares of the company’s stock valued at $36,699,000 after purchasing an additional 30,129 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Mirum Pharmaceuticals by 81.2% during the 1st quarter. Principal Financial Group Inc. now owns 57,369 shares of the company’s stock valued at $5,300,000 after purchasing an additional 25,710 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Mirum Pharmaceuticals during the 1st quarter worth approximately $56,000.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 20,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $122.27, for a total value of $2,445,400.00. Following the completion of the sale, the chief executive officer directly owned 194,309 shares in the company, valued at $23,758,161.43. This represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $122.25, for a total value of $611,250.00. Following the transaction, the chief financial officer directly owned 42,181 shares of the company’s stock, valued at approximately $5,156,627.25. This represents a 10.60% 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. Insiders have sold a total of 65,315 shares of company stock valued at $6,991,928 over the last 90 days. 8.32% of the stock is owned by insiders.

Mirum Pharmaceuticals Stock Down 0.1%

NASDAQ:MIRM opened at $114.36 on Friday. Mirum Pharmaceuticals, Inc. has a one year low of $50.25 and a one year high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The company has a market cap of $6.97 billion, a PE ratio of -8.40 and a beta of 0.48. The firm’s 50 day simple moving average is $108.55 and its 200 day simple moving average is $100.26.

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

Analysts Set New Price Targets

Several brokerages recently commented on MIRM. Wolfe Research initiated coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price objective for the company. Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. JPMorgan Chase & Co. upped their price target on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Citizens Jmp increased their price target on Mirum Pharmaceuticals from $140.00 to $146.00 and gave the company a “market outperform” rating in a research note on Monday, June 15th. Finally, Stifel Nicolaus set a $136.00 price objective on Mirum Pharmaceuticals in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $143.40.

Mirum Pharmaceuticals Profile

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.