Octagon Capital Advisors LP Invests $31.31 Million in Mirum Pharmaceuticals, Inc. $MIRM

Octagon Capital Advisors LP bought a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 338,900 shares of the company’s stock, valued at approximately $31,308,000. Mirum Pharmaceuticals accounts for approximately 3.5% of Octagon Capital Advisors LP’s portfolio, making the stock its 9th largest holding. Octagon Capital Advisors LP owned about 0.56% of Mirum Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MIRM. Faithward Advisors LLC lifted its holdings in Mirum Pharmaceuticals by 0.5% in the first quarter. Faithward Advisors LLC now owns 27,467 shares of the company’s stock valued at $2,537,000 after acquiring an additional 126 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of 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 period. Comerica Bank grew its stake in shares of 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 period. Osaic Holdings Inc. increased its holdings in shares of Mirum Pharmaceuticals by 46.5% during 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 in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at approximately $30,000.

Mirum Pharmaceuticals Price Performance

NASDAQ MIRM opened at $113.03 on Monday. The business has a fifty day moving average price of $108.77 and a 200 day moving average price of $100.52. Mirum Pharmaceuticals, Inc. has a one year low of $50.25 and a one year high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. The company has a market cap of $6.89 billion, a P/E ratio of -8.30 and a beta of 0.48.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. During the same period last year, the firm earned ($0.30) EPS. The company’s revenue for the quarter was up 43.3% compared to the same quarter last year. Research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Morgan Stanley lifted their price objective on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. HC Wainwright reiterated a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Wolfe Research initiated coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an “outperform” rating and a $145.00 target price on the stock. Finally, Citizens Jmp raised their target price on Mirum Pharmaceuticals from $140.00 to $146.00 and gave the company a “market outperform” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.40.

Insider Buying and Selling

In other news, SVP Jolanda Howe sold 2,721 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total transaction of $326,520.00. Following the transaction, the senior vice president owned 3,114 shares of the company’s stock, valued at approximately $373,680. The trade was a 46.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the completion of the sale, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at $18,622,574.56. This represents a 13.37% decrease in their position. 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. Over the last three months, insiders have sold 65,315 shares of company stock worth $6,991,928. 8.32% of the stock is owned by 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.