Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 26.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 423,511 shares of the company’s stock after selling 153,763 shares during the quarter. Pictet Asset Management Holding SA owned about 0.70% of Mirum Pharmaceuticals worth $39,124,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Comerica Bank raised its stake in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the last quarter. AQR Capital Management LLC boosted its stake in Mirum Pharmaceuticals by 307.3% during 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% during 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 during the last quarter. Caxton Associates LLP purchased a new stake in shares of Mirum Pharmaceuticals during the first quarter worth $217,000. Finally, Empowered Funds LLC grew its holdings in shares of Mirum Pharmaceuticals by 15.4% during the first quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock worth $1,729,000 after buying an additional 5,120 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MIRM. Weiss Ratings downgraded shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Evercore reaffirmed an “outperform” rating and set a $138.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. CLSA set a $146.00 price objective on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Robert W. Baird raised their target price on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley raised their target price on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. One investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.80.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $117.12 on Wednesday. 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 firm’s 50-day moving average is $101.44 and its two-hundred day moving average is $94.74. Mirum Pharmaceuticals, Inc. has a 12 month low of $47.89 and a 12 month high of $125.39. The company has a market capitalization of $7.14 billion, a PE ratio of -8.61 and a beta of 0.50.

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

Insider Activity

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the completion of the sale, the chief executive officer owned 194,309 shares of the company’s stock, valued at $18,622,574.56. This trade 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 is available through the SEC website. 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, June 8th. The stock was sold at an average price of $93.82, for a total value of $469,100.00. Following the sale, the chief financial officer directly owned 44,788 shares of the company’s stock, valued at approximately $4,202,010.16. This trade represents a 10.04% 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. In the last 90 days, insiders have sold 37,594 shares of company stock valued at $3,608,758. 8.32% of the stock is currently owned by company insiders.

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.