Mirum Pharmaceuticals, Inc. $MIRM is Patient Square Capital LP’s 9th Largest Position

Patient Square Capital LP lowered its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 2.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 113,462 shares of the company’s stock after selling 2,900 shares during the quarter. Mirum Pharmaceuticals comprises about 2.1% of Patient Square Capital LP’s holdings, making the stock its 9th largest position. Patient Square Capital LP’s holdings in Mirum Pharmaceuticals were worth $5,774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Mirum Pharmaceuticals by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company’s stock valued at $114,430,000 after purchasing an additional 115,327 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Mirum Pharmaceuticals in the 2nd quarter worth $270,000. Woodline Partners LP boosted its position in Mirum Pharmaceuticals by 40.0% in the 1st quarter. Woodline Partners LP now owns 566,271 shares of the company’s stock valued at $25,511,000 after buying an additional 161,867 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Mirum Pharmaceuticals during the second quarter valued at about $11,071,000. Finally, Strs Ohio purchased a new stake in shares of Mirum Pharmaceuticals during the first quarter worth about $550,000.

Analysts Set New Price Targets

A number of brokerages recently commented on MIRM. Citigroup reissued an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Wednesday, November 5th. JMP Securities set a $95.00 target price on Mirum Pharmaceuticals in a research note on Wednesday, November 5th. Raymond James Financial reissued a “strong-buy” rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 26th. Finally, Cantor Fitzgerald increased their price objective on shares of Mirum Pharmaceuticals from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $84.91.

Insiders Place Their Bets

In other news, CFO Eric Bjerkholt sold 9,578 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $76.01, for a total value of $728,023.78. Following the transaction, the chief financial officer directly owned 39,945 shares in the company, valued at approximately $3,036,219.45. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Laura Brege sold 17,000 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $74.40, for a total transaction of $1,264,800.00. Following the completion of the transaction, the director directly owned 15,703 shares of the company’s stock, valued at $1,168,303.20. This trade represents a 51.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 22.87% of the stock is currently owned by corporate insiders.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $72.21 on Tuesday. Mirum Pharmaceuticals, Inc. has a 52 week low of $36.88 and a 52 week high of $78.54. The company has a current ratio of 3.31, a quick ratio of 3.16 and a debt-to-equity ratio of 1.06. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -83.96 and a beta of 0.75. The stock has a 50 day moving average of $72.44 and a 200-day moving average of $60.43.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.15. The business had revenue of $133.01 million for the quarter, compared to analyst estimates of $130.11 million. Mirum Pharmaceuticals had a negative return on equity of 16.47% and a negative net margin of 8.78%.The business’s revenue was up 47.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.30) EPS. Mirum Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current 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.