Corient Private Wealth LP Invests $1.56 Million in Mirum Pharmaceuticals, Inc. $MIRM

Corient Private Wealth LP acquired a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 13,367 shares of the company’s stock, valued at approximately $1,565,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MIRM. Cullen Frost Bankers Inc. purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter valued at about $30,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $32,000. CIBC Private Wealth Group LLC bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $32,000. Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals during the 3rd quarter worth approximately $33,000. Finally, Comerica Bank lifted its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after acquiring an additional 278 shares during the last quarter.

Mirum Pharmaceuticals Trading Up 0.8%

Shares of Mirum Pharmaceuticals stock opened at $100.63 on Friday. The firm’s 50 day simple moving average is $109.55 and its two-hundred day simple moving average is $101.74. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of -6.92 and a beta of 0.49. Mirum Pharmaceuticals, Inc. has a 12-month low of $63.23 and a 12-month high of $130.00. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The company had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The company’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Analysts predict that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the sale, the chief financial officer owned 36,355 shares in the company, valued at approximately $3,631,864.50. The trade was a 14.17% decrease in their position. The transaction was disclosed in a document filed 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 658 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total value of $65,800.00. Following the completion of the transaction, the senior vice president directly owned 616 shares in the company, valued at $61,600. This represents a 51.65% 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. In the last 90 days, insiders sold 133,814 shares of company stock valued at $13,914,562. 8.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Stifel Nicolaus set a $136.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. HC Wainwright decreased their price objective on Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Finally, UBS Group set a $137.00 target price on Mirum Pharmaceuticals in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.31.

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.