Renaissance Technologies LLC Purchases 143,000 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Renaissance Technologies LLC lifted its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 32.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 582,085 shares of the company’s stock after buying an additional 143,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Mirum Pharmaceuticals were worth $53,773,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth about $32,000. CIBC Private Wealth Group LLC bought a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth about $32,000. Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth about $33,000. Finally, Comerica Bank raised its position in shares of Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares in the last quarter.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction that occurred 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 owned 194,309 shares of the company’s stock, valued at approximately $23,758,161.43. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $122.25, for a total value of $611,250.00. Following the sale, the chief financial officer owned 42,181 shares of the company’s stock, valued at approximately $5,156,627.25. This represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 65,315 shares of company stock valued at $6,991,928. Company insiders own 8.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MIRM. TD Cowen upped their target price on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Evercore reiterated an “outperform” rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. CLSA set a $146.00 price target on Mirum Pharmaceuticals in a research note on Monday, June 15th. HC Wainwright restated a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Finally, Royal Bank Of Canada raised their price objective on shares of Mirum Pharmaceuticals from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.40.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $113.03 on Monday. The firm has a market capitalization of $6.89 billion, a P/E ratio of -8.30 and a beta of 0.48. The firm’s 50-day moving average price is $108.77 and its 200-day moving average price is $100.52. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 1-year low of $50.25 and a 1-year high of $130.00.

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

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.