William Blair Investment Management LLC Purchases Shares of 1,404,741 Mirum Pharmaceuticals, Inc. $MIRM

William Blair Investment Management LLC acquired a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,404,741 shares of the company’s stock, valued at approximately $164,453,000. William Blair Investment Management LLC owned about 2.16% of Mirum Pharmaceuticals at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at about $513,945,000. Janus Henderson Group PLC grew its position in Mirum Pharmaceuticals by 21.4% during the 4th quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock worth $479,050,000 after acquiring an additional 1,067,722 shares during the last quarter. State Street Corp increased its stake in Mirum Pharmaceuticals by 59.2% in the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after purchasing an additional 797,088 shares during the period. Wellington Management Group LLP increased its stake in Mirum Pharmaceuticals by 566.8% in the 3rd quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock worth $57,965,000 after purchasing an additional 672,118 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Mirum Pharmaceuticals in the second quarter valued at approximately $78,434,000.

Insider Activity at Mirum Pharmaceuticals

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

Analyst Upgrades and Downgrades

MIRM has been the subject of a number of analyst reports. Citizens Jmp dropped their price objective on Mirum Pharmaceuticals from $146.00 to $137.00 and set a “market outperform” rating for the company in a research note on Thursday, August 6th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. HC Wainwright lowered their price target on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. CLSA set a $146.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Finally, Morgan Stanley set a $137.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $137.33.

Mirum Pharmaceuticals Trading Down 0.8%

NASDAQ MIRM opened at $96.31 on Friday. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The stock has a 50 day simple moving average of $111.20 and a two-hundred day simple moving average of $101.94. The stock has a market cap of $6.25 billion, a P/E ratio of -6.62 and a beta of 0.52.

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

Mirum Pharmaceuticals Company 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.