Penserra Capital Management LLC Takes Position in Mirum Pharmaceuticals, Inc. $MIRM

Penserra Capital Management LLC bought a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,733 shares of the company’s stock, valued at approximately $393,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MIRM. CWM LLC boosted its position in shares of Mirum Pharmaceuticals by 259.4% during the 1st quarter. CWM LLC now owns 593 shares of the company’s stock valued at $27,000 after purchasing an additional 428 shares in the last quarter. Comerica Bank lifted its stake 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 purchasing an additional 278 shares during the last quarter. Quarry LP acquired a new stake in Mirum Pharmaceuticals during the first quarter valued at approximately $56,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Mirum Pharmaceuticals by 14.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,914 shares of the company’s stock worth $97,000 after buying an additional 248 shares in the last quarter. Finally, Avanza Fonder AB boosted its holdings in Mirum Pharmaceuticals by 44.3% during the second quarter. Avanza Fonder AB now owns 4,154 shares of the company’s stock worth $211,000 after buying an additional 1,276 shares in the last quarter.

Mirum Pharmaceuticals Stock Performance

Shares of Mirum Pharmaceuticals stock opened at $70.78 on Thursday. The stock has a market cap of $3.64 billion, a PE ratio of -82.30 and a beta of 0.75. Mirum Pharmaceuticals, Inc. has a 12 month low of $36.88 and a 12 month high of $78.54. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $72.73 and a 200-day simple moving average of $59.71.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.The firm had revenue of $133.01 million during the quarter, compared to the consensus estimate of $130.11 million. During the same period in the prior year, the business earned ($0.30) EPS. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. Mirum Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Laura Brege sold 17,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $74.40, for a total value of $1,264,800.00. Following the completion of the sale, the director directly owned 15,703 shares of the company’s stock, valued at $1,168,303.20. This represents a 51.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Bjerkholt sold 9,578 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $76.01, for a total transaction of $728,023.78. Following the completion of the transaction, the chief financial officer owned 39,945 shares in the company, valued at approximately $3,036,219.45. This represents a 19.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JMP Securities set a $95.00 price target on Mirum Pharmaceuticals in a report on Wednesday, November 5th. Evercore ISI boosted their target price on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals and gave the company a “buy” rating in a report on Monday, August 11th. TD Cowen upgraded Mirum Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $84.91.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.