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

Renaissance Technologies LLC lifted its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 32.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 582,085 shares of the company’s stock after purchasing an additional 143,000 shares during the quarter. Renaissance Technologies LLC owned 0.95% of Mirum Pharmaceuticals worth $53,773,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MIRM. Janus Henderson Group PLC raised its position in Mirum Pharmaceuticals by 21.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock valued at $479,050,000 after purchasing an additional 1,067,722 shares in the last quarter. Vanguard Group Inc. lifted its stake in Mirum Pharmaceuticals by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock worth $205,065,000 after purchasing an additional 50,720 shares during the last quarter. State Street Corp boosted its holdings in shares of Mirum Pharmaceuticals by 59.2% in the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock valued at $169,354,000 after purchasing an additional 797,088 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Mirum Pharmaceuticals by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company’s stock valued at $112,196,000 after purchasing an additional 137,087 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Mirum Pharmaceuticals by 56.6% in the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company’s stock valued at $97,776,000 after purchasing an additional 447,141 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 20,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $122.27, for a total value of $2,445,400.00. Following the sale, the chief executive officer owned 194,309 shares of the company’s stock, valued at $23,758,161.43. The trade was a 9.33% decrease in their ownership of the stock. 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, CFO Eric Bjerkholt sold 5,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer owned 42,181 shares of the company’s stock, valued at $5,156,627.25. The trade was a 10.60% decrease in their ownership of the stock. 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 a total of 65,315 shares of company stock valued at $6,991,928 over the last 90 days. 8.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MIRM shares. Wolfe Research initiated coverage on Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price objective for the company. Morgan Stanley lifted their target price on Mirum Pharmaceuticals from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Weiss Ratings downgraded Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Evercore reissued an “outperform” rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Finally, HC Wainwright restated a “buy” rating on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $143.40.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM opened at $113.03 on Monday. Mirum Pharmaceuticals, Inc. has a one year low of $50.25 and a one year high of $130.00. 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 company has a market cap of $6.89 billion, a PE ratio of -8.30 and a beta of 0.48. The firm’s 50 day simple moving average is $108.77 and its 200 day simple moving average is $100.52.

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

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.