Frazier Life Sciences Management L.P. Purchases 75,000 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Frazier Life Sciences Management L.P. increased its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,570,392 shares of the company's stock after buying an additional 75,000 shares during the quarter. Mirum Pharmaceuticals comprises 10.3% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its largest position. Frazier Life Sciences Management L.P. owned about 13.69% of Mirum Pharmaceuticals worth $256,245,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Quest Partners LLC grew its stake in shares of Mirum Pharmaceuticals by 7,513.3% in the second quarter. Quest Partners LLC now owns 1,142 shares of the company's stock valued at $39,000 after buying an additional 1,127 shares in the last quarter. Amalgamated Bank boosted its holdings in Mirum Pharmaceuticals by 60.8% in the second quarter. Amalgamated Bank now owns 1,357 shares of the company's stock valued at $46,000 after purchasing an additional 513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company's stock valued at $67,000 after purchasing an additional 318 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Mirum Pharmaceuticals in the third quarter valued at about $215,000. Finally, ProShare Advisors LLC purchased a new position in Mirum Pharmaceuticals in the second quarter valued at about $213,000.

Mirum Pharmaceuticals Price Performance

Shares of MIRM traded up $0.79 during trading hours on Tuesday, hitting $44.10. 765,269 shares of the company were exchanged, compared to its average volume of 546,326. The company has a market capitalization of $2.12 billion, a PE ratio of -21.84 and a beta of 1.20. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The firm has a fifty day simple moving average of $41.66 and a 200-day simple moving average of $38.32. Mirum Pharmaceuticals, Inc. has a one year low of $23.14 and a one year high of $48.89.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. The business had revenue of $90.38 million during the quarter, compared to analysts' expectations of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. Mirum Pharmaceuticals's revenue was up 89.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.57) earnings per share. As a group, sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current year.

Analyst Ratings Changes

MIRM has been the subject of a number of analyst reports. Citigroup increased their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. HC Wainwright reissued a "buy" rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Robert W. Baird increased their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Leerink Partners increased their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $57.73.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.87% of the company's stock.

Mirum Pharmaceuticals Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.