Trails Edge Capital Partners LP Acquires New Shares in Mirum Pharmaceuticals, Inc. $MIRM

Trails Edge Capital Partners LP acquired a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 223,312 shares of the company’s stock, valued at approximately $26,143,136. Mirum Pharmaceuticals accounts for approximately 0.0% of Trails Edge Capital Partners LP’s investment portfolio, making the stock its 9th biggest position. Trails Edge Capital Partners LP owned 0.34% of Mirum Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MIRM. Jupiter Topco LLC acquired a new stake in Mirum Pharmaceuticals in the second quarter valued at approximately $691,672,000. BlackRock Inc. acquired a new stake in Mirum Pharmaceuticals during the second quarter valued at approximately $513,945,000. William Blair Investment Management LLC bought a new stake in Mirum Pharmaceuticals in the second quarter worth approximately $164,453,000. Janus Henderson Group PLC raised its stake 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 in the last quarter. Finally, 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 buying an additional 797,088 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. This trade represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total value of $4,000,000.00. Following 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 133,156 shares of company stock valued at $13,763,562. Corporate insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Stock Down 2.3%

MIRM traded down $2.29 during midday trading on Friday, reaching $97.46. 426,507 shares of the company were exchanged, compared to its average volume of 866,562. Mirum Pharmaceuticals, Inc. has a one year low of $63.23 and a one year high of $130.00. The company has a market cap of $6.33 billion, a price-to-earnings ratio of -6.70 and a beta of 0.52. 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 company’s fifty day moving average price is $110.82 and its 200 day moving average price is $101.82.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MIRM. Morgan Stanley set a $137.00 price target on Mirum Pharmaceuticals in a report on Thursday, August 6th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Raymond James Financial restated a “strong-buy” rating and set a $165.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. UBS Group set a $137.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $137.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $137.31.

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.