Patient Square Capital LP Takes Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Patient Square Capital LP purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 64,900 shares of the company’s stock, valued at approximately $2,684,000. Mirum Pharmaceuticals makes up 1.0% of Patient Square Capital LP’s investment portfolio, making the stock its 16th largest holding.

A number of other large investors also recently bought and sold shares of the business. Man Group plc acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at approximately $289,000. Nuveen Asset Management LLC grew its stake in Mirum Pharmaceuticals by 46.7% in the 4th quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company’s stock valued at $29,861,000 after acquiring an additional 229,746 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Mirum Pharmaceuticals by 51.5% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 25,059 shares of the company’s stock worth $1,036,000 after acquiring an additional 8,521 shares during the period. Millennium Management LLC raised its position in Mirum Pharmaceuticals by 15.7% during the fourth quarter. Millennium Management LLC now owns 526,974 shares of the company’s stock worth $21,790,000 after acquiring an additional 71,410 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Mirum Pharmaceuticals by 2.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,581,642 shares of the company’s stock valued at $189,481,000 after purchasing an additional 101,358 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MIRM shares. HC Wainwright upped their target price on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JMP Securities raised their price objective on Mirum Pharmaceuticals from $74.00 to $76.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Robert W. Baird upped their price target on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Raymond James increased their price target on shares of Mirum Pharmaceuticals from $73.00 to $77.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Buy” and an average price target of $60.64.

Insider Buying and Selling

In other news, SVP Jolanda Howe sold 57,606 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $44.35, for a total value of $2,554,826.10. Following the completion of the sale, the senior vice president now directly owns 4,841 shares of the company’s stock, valued at approximately $214,698.35. This represents a 92.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Peter Radovich sold 7,879 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.21, for a total value of $348,330.59. Following the transaction, the chief operating officer now directly owns 18,672 shares in the company, valued at approximately $825,489.12. This represents a 29.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,764 shares of company stock worth $4,109,161 in the last quarter. 14.36% of the stock is owned by insiders.

Mirum Pharmaceuticals Trading Down 0.7%

MIRM opened at $45.27 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. Mirum Pharmaceuticals, Inc. has a one year low of $23.83 and a one year high of $54.23. The company has a market cap of $2.24 billion, a P/E ratio of -22.41 and a beta of 0.95. The business’s 50-day simple moving average is $42.88 and its 200-day simple moving average is $44.35.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $111.59 million for the quarter, compared to analysts’ expectations of $98.47 million. During the same quarter in the previous year, the firm earned ($0.54) earnings per share. The business’s revenue was up 61.2% compared to the same quarter last year. As a group, equities research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

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.