Sofinnova Investments Inc. Makes New Investment in Mirum Pharmaceuticals, Inc. $MIRM

Sofinnova Investments Inc. acquired a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,100 shares of the company’s stock, valued at approximately $1,825,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $30,000. Eurizon Capital SGR S.p.A. bought a new position in Mirum Pharmaceuticals during the fourth quarter worth about $32,000. CIBC Private Wealth Group LLC bought a new position in Mirum Pharmaceuticals during the fourth quarter worth about $32,000. Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals in the third quarter valued at approximately $33,000. Finally, Comerica Bank boosted 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 acquiring an additional 278 shares during the period.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, 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 transaction, the chief financial officer directly owned 44,788 shares in the company, valued at $4,202,010.16. This trade represents a 10.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the sale, the chief executive officer owned 194,309 shares of the company’s stock, valued at approximately $18,622,574.56. This trade represents a 13.37% 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. 8.32% of the stock is owned by corporate insiders.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $101.00 on Tuesday. Mirum Pharmaceuticals, Inc. has a twelve month low of $47.89 and a twelve month high of $114.99. The firm has a 50 day moving average of $98.02 and a 200 day moving average of $91.47. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $6.16 billion, a P/E ratio of -7.42 and a beta of 0.50.

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 analysts’ consensus estimates of ($0.75) by ($12.68). The business had revenue of $159.88 million for the quarter, compared to the consensus estimate 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 for the quarter was up 43.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) earnings per share. As a group, equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MIRM shares. Leerink Partners cut their price objective on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Morgan Stanley boosted their price objective on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Raymond James Financial restated a “strong-buy” rating and issued a $165.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. CLSA set a $146.00 price target on shares of Mirum Pharmaceuticals in a report on Monday. Finally, Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $139.80.

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.