PDT Partners LLC Acquires New Stake in Mirum Pharmaceuticals, Inc. $MIRM

PDT Partners LLC purchased a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 122,041 shares of the company’s stock, valued at approximately $14,287,000. Mirum Pharmaceuticals comprises about 0.8% of PDT Partners LLC’s holdings, making the stock its 26th largest holding. PDT Partners LLC owned 0.19% of Mirum Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in Mirum Pharmaceuticals during the 4th quarter valued at $30,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth $32,000. CIBC Private Wealth Group LLC bought a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth $32,000. Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals in the third quarter worth $33,000. Finally, Comerica Bank grew its position in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares in the last quarter.

Mirum Pharmaceuticals Trading Up 1.4%

NASDAQ MIRM opened at $98.08 on Wednesday. The firm has a market cap of $6.37 billion, a PE ratio of -6.74 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The stock has a 50-day moving average of $111.04 and a 200-day moving average of $101.82. 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 announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The firm had revenue of $176.24 million during the quarter, compared to the consensus estimate of $166.33 million. During the same period last year, the business earned ($0.12) EPS. Mirum Pharmaceuticals’s revenue was up 37.9% on a year-over-year basis. As a group, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

MIRM has been the topic of a number of research analyst reports. HC Wainwright decreased their target price on 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 Mirum Pharmaceuticals in a research report on Thursday, August 6th. Stifel Nicolaus set a $136.00 price objective on Mirum Pharmaceuticals in a report on Thursday, May 7th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings upgraded shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.33.

Insider Transactions at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction that occurred on 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. The trade was a 14.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the business’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 sale, the senior vice president directly owned 1,274 shares in the company, valued at $127,400. This trade represents a 96.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 133,156 shares of company stock valued at $13,763,562. Corporate insiders own 8.32% of the company’s stock.

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.