Rock Springs Capital Management LP Grows Stock Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Rock Springs Capital Management LP grew its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 6.4% in the 1st quarter, HoldingsChannel reports. The fund owned 811,294 shares of the company’s stock after purchasing an additional 49,000 shares during the quarter. Mirum Pharmaceuticals makes up 4.4% of Rock Springs Capital Management LP’s investment portfolio, making the stock its 4th largest position. Rock Springs Capital Management LP’s holdings in Mirum Pharmaceuticals were worth $74,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC grew its position in shares of Mirum Pharmaceuticals by 21.4% in the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock valued at $479,050,000 after purchasing an additional 1,067,722 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Mirum Pharmaceuticals by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock worth $205,065,000 after purchasing an additional 50,720 shares during the last quarter. State Street Corp lifted its holdings in Mirum Pharmaceuticals by 59.2% during 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 last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Mirum Pharmaceuticals by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company’s stock worth $112,196,000 after purchasing an additional 137,087 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Mirum Pharmaceuticals by 56.6% in the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company’s stock valued at $97,776,000 after purchasing an additional 447,141 shares during the period.

Mirum Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ:MIRM opened at $114.20 on Tuesday. The company has a market capitalization of $6.96 billion, a P/E ratio of -8.39 and a beta of 0.48. Mirum Pharmaceuticals, Inc. has a 1 year low of $50.25 and a 1 year high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The business’s 50 day simple moving average is $109.14 and its 200 day simple moving average is $100.79.

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

Insider Transactions at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 20,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $122.27, for a total value of $2,445,400.00. Following the completion of the transaction, the chief executive officer owned 194,309 shares of the company’s stock, valued at $23,758,161.43. The trade was a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $122.25, for a total transaction of $611,250.00. Following the sale, the chief financial officer directly owned 42,181 shares of the company’s stock, valued at $5,156,627.25. This represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 65,315 shares of company stock valued at $6,991,928. 8.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MIRM has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Citizens Jmp lifted their target price on Mirum Pharmaceuticals from $140.00 to $146.00 and gave the stock a “market outperform” rating in a report on Monday, June 15th. CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Weiss Ratings downgraded shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.40.

About Mirum Pharmaceuticals

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.