Trails Edge Capital Partners LP Buys New Stake in Mirum Pharmaceuticals, Inc. $MIRM

Trails Edge Capital Partners LP purchased a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 223,312 shares of the company’s stock, valued at approximately $26,143,136,000. Mirum Pharmaceuticals makes up 4.2% of Trails Edge Capital Partners LP’s portfolio, making the stock its 9th biggest holding. Trails Edge Capital Partners LP owned about 0.34% of Mirum Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. ABS Investment Management LLC purchased a new position in shares of Mirum Pharmaceuticals during the second quarter worth about $245,847,000. Quantbot Technologies LP acquired a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at about $44,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter valued at about $30,000. Eurizon Capital SGR S.p.A. purchased a new position in Mirum Pharmaceuticals during the 4th quarter worth approximately $32,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth approximately $32,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MIRM shares. JPMorgan Chase & Co. boosted their price objective on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada cut their target price on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. HC Wainwright reduced their price target on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. TD Cowen decreased their price target on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $165.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. One investment 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $137.33.

Insider Transactions at Mirum Pharmaceuticals

In related news, CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the transaction, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the senior vice president owned 1,274 shares of the company’s stock, valued at approximately $127,400. The trade was a 96.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 133,156 shares of company stock worth $13,763,562. Company insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $98.08 on Wednesday. Mirum Pharmaceuticals, Inc. has a 12 month low of $63.23 and a 12 month high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. The business has a 50 day simple moving average of $111.04 and a 200-day simple moving average of $101.82. The stock has a market capitalization of $6.37 billion, a PE ratio of -6.74 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). The firm had revenue of $176.24 million during 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%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.12) earnings per share. Equities analysts predict 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.