PDT Partners LLC Makes New Investment in Mirum Pharmaceuticals, Inc. $MIRM

PDT Partners LLC bought a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 2nd quarter, Holdings Channel reports. The firm bought 122,041 shares of the company’s stock, valued at approximately $14,287,000. Mirum Pharmaceuticals accounts for approximately 0.8% of PDT Partners LLC’s holdings, making the stock its 26th biggest position.

Several other hedge funds have also bought and sold shares of MIRM. Nan Fung Trinity HK Ltd. increased its stake in Mirum Pharmaceuticals by 45.6% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 227,479 shares of the company’s stock worth $17,969,000 after acquiring an additional 71,214 shares during the last quarter. Emerald Advisers LLC lifted its stake in shares of Mirum Pharmaceuticals by 8.2% in 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. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $1,283,000. BlackRock Inc. purchased a new position in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $513,945,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at approximately $3,762,000.

Mirum Pharmaceuticals Stock Up 1.4%

NASDAQ:MIRM opened at $98.08 on Wednesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The company has a 50-day moving average of $111.04 and a 200 day moving average of $101.82. The firm has a market cap of $6.37 billion, a PE ratio of -6.74 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). The business had revenue of $176.24 million during the quarter, compared to the consensus estimate of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. As a group, research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MIRM shares. HC Wainwright reduced their target price on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Robert W. Baird set a $123.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. Royal Bank Of Canada cut their price target on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Morgan Stanley set a $137.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. Finally, Wolfe Research began 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $137.33.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total value of $4,000,000.00. Following the completion of the transaction, the senior vice president owned 1,274 shares in the company, valued at $127,400. This trade represents a 96.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This trade represents a 14.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 133,156 shares of company stock valued at $13,763,562 in the last ninety days. Corporate insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Company 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.