Pictet Asset Management Holding SA Sells 17,248 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Pictet Asset Management Holding SA lowered its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 509,195 shares of the company’s stock after selling 17,248 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Mirum Pharmaceuticals were worth $43,526,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MIRM. ABS Investment Management LLC bought a new stake in Mirum Pharmaceuticals in the second quarter worth about $245,847,000. Integrated Wealth Concepts LLC acquired a new stake in Mirum Pharmaceuticals in the 2nd quarter valued at about $27,000. Quantbot Technologies LP bought a new position in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $44,000. State of Wyoming bought a new position in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $52,000. Finally, Fifth Third Bancorp acquired a new position in shares of Mirum Pharmaceuticals in the 1st quarter worth approximately $56,000.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the senior vice president directly owned 1,274 shares of the company’s stock, valued at approximately $127,400. This trade represents a 96.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Peetz sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the transaction, the chief executive officer directly owned 194,440 shares of the company’s stock, valued at $19,187,339.20. The trade was a 13.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 90,658 shares of company stock valued at $8,826,200 over the last 90 days. 8.32% of the stock is currently owned by corporate insiders.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $94.42 on Wednesday. The firm’s 50-day moving average is $89.13 and its 200-day moving average is $98.46. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.98 and a current ratio of 2.07. Mirum Pharmaceuticals, Inc. has a 52-week low of $63.23 and a 52-week high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Tuesday, November 3rd. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative net margin of 134.75% and a negative return on equity of 97.25%. The company had revenue of $185.72 million during the quarter, compared to the consensus estimate of $178.07 million. During the same quarter in the previous year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 39.6% on a year-over-year basis. As a group, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.47 earnings per share for the current year.

Analyst Ratings Changes

MIRM has been the topic of a number of recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $189.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 4th. Leerink Partners lowered their target price on Mirum Pharmaceuticals from $154.00 to $140.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. Royal Bank Of Canada restated an “outperform” rating and set a $155.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday, November 4th. Evercore reaffirmed an “outperform” rating and set a $146.00 target price on shares of Mirum Pharmaceuticals in a research report on Tuesday, October 13th. Finally, Citizens Jmp raised their price target on Mirum Pharmaceuticals from $144.00 to $167.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $154.94.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for rare liver and other serious diseases. Founded in 2018, the company works on therapies for conditions with limited treatment options. Its commercial products include Livmarli (maralixibat), an oral treatment for cholestatic pruritus associated with Alagille syndrome and, in the United States, progressive familial intrahepatic cholestasis. Mirum also markets Cholbam (cholic acid) for certain bile acid synthesis disorders and Chenodal (chenodiol) for cerebrotendinous xanthomatosis.