Penn Capital Management Company LLC Raises Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Penn Capital Management Company LLC increased its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 298,914 shares of the company’s stock after purchasing an additional 42,147 shares during the quarter. Mirum Pharmaceuticals comprises about 2.2% of Penn Capital Management Company LLC’s portfolio, making the stock its 3rd biggest holding. Penn Capital Management Company LLC’s holdings in Mirum Pharmaceuticals were worth $35,056,000 as of its most recent filing with the Securities & Exchange Commission.

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

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $97.46 on Friday. The firm’s 50 day moving average is $110.63 and its 200-day moving average is $101.79. The stock has a market capitalization of $6.33 billion, a P/E ratio of -6.70 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. Mirum Pharmaceuticals, Inc. has a 12-month low of $63.23 and a 12-month high of $130.00.

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

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 6,001 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the completion of the sale, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of Mirum Pharmaceuticals 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 completion of the transaction, the senior vice president owned 1,274 shares in the company, valued at $127,400. The trade was a 96.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over 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.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MIRM shares. Wolfe Research started coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price objective on the stock. Stifel Nicolaus set a $136.00 target price on Mirum Pharmaceuticals in a research report on Thursday, May 7th. Evercore reaffirmed an “outperform” rating and set a $138.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Morgan Stanley set a $137.00 price target on Mirum Pharmaceuticals in a research report on Thursday, August 6th. Finally, HC Wainwright dropped their price objective on Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.