74,750 Shares in Mirum Pharmaceuticals, Inc. $MIRM Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 74,750 shares of the company’s stock, valued at approximately $8,751,000. The Manufacturers Life Insurance Company owned approximately 0.12% of Mirum Pharmaceuticals at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Contravisory Investment Management Inc. lifted its stake in Mirum Pharmaceuticals by 2.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock valued at $539,000 after purchasing an additional 103 shares during the last quarter. Faithward Advisors LLC increased its position in Mirum Pharmaceuticals by 0.5% during the 1st quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock valued at $2,537,000 after purchasing an additional 126 shares during the period. Janney Montgomery Scott LLC raised its holdings in Mirum Pharmaceuticals by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock worth $253,000 after purchasing an additional 200 shares during the last quarter. Comerica Bank raised its holdings in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of Mirum Pharmaceuticals by 46.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock valued at $56,000 after purchasing an additional 351 shares during the last quarter.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $97.46 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. The stock has a 50-day moving average of $110.63 and a 200-day moving average of $101.79. The company has a market cap of $6.33 billion, a PE ratio of -6.70 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a one year low of $63.23 and a one year high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). The firm had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The firm’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. On average, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MIRM shares. Raymond James Financial restated a “strong-buy” rating and issued a $165.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Citizens Jmp reissued a “market outperform” rating and issued a $137.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday. Citigroup reaffirmed a “market outperform” rating on shares of Mirum Pharmaceuticals in a research note on Thursday. Morgan Stanley set a $137.00 target price on Mirum Pharmaceuticals in a report on Thursday, August 6th. Finally, Stifel Nicolaus set a $136.00 price target on Mirum Pharmaceuticals in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $137.31.

Insider Activity

In other news, SVP Jolanda Howe sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the transaction, the senior vice president directly owned 1,274 shares of the company’s stock, valued at $127,400. This represents a 96.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Peetz sold 20,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $98.92, for a total value of $1,978,400.00. Following the completion of the transaction, the chief executive officer owned 194,309 shares in the company, valued at approximately $19,221,046.28. This represents a 9.33% decrease in their ownership of the stock. 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 sold a total of 133,156 shares of company stock worth $13,763,562 over the last quarter. 8.32% of the stock is currently owned by corporate insiders.

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.