Financiere des Professionnels Fonds d investissement inc. Purchases New Stake in Mirum Pharmaceuticals, Inc. $MIRM

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,700 shares of the company’s stock, valued at approximately $619,000.

Other hedge funds have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $32,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth about $32,000. Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth about $33,000. Finally, Summit Securities Group LLC bought a new stake in shares of Mirum Pharmaceuticals during the 1st quarter worth about $42,000.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $118.86 on Friday. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -8.73 and a beta of 0.48. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. The stock has a fifty day moving average price of $107.97 and a 200-day moving average price of $99.09.

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

Insiders Place Their Bets

In other news, CFO Eric Bjerkholt sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $122.25, for a total transaction 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 approximately $5,156,627.25. This represents a 10.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 20,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $122.27, for a total transaction of $2,445,400.00. Following the sale, the chief executive officer owned 194,309 shares in the company, valued at $23,758,161.43. This represents a 9.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,315 shares of company stock worth $6,991,928 over the last ninety days. Corporate insiders own 8.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MIRM. Robert W. Baird increased their price target on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $136.00 price objective on Mirum Pharmaceuticals in a report on Thursday, May 7th. CLSA set a $146.00 target price on Mirum Pharmaceuticals in a research report on Monday, June 15th. Weiss Ratings lowered Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Finally, Citigroup reissued an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.40.

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.