Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 58.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,860 shares of the company’s stock after selling 17,940 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Mirum Pharmaceuticals were worth $1,016,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Mirum Pharmaceuticals by 2.0% during the fourth 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 in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Mirum Pharmaceuticals by 566.8% in the 3rd quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock valued at $57,965,000 after buying an additional 672,118 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Mirum Pharmaceuticals by 709.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock valued at $44,889,000 after buying an additional 536,674 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Mirum Pharmaceuticals by 6.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 577,274 shares of the company’s stock worth $45,599,000 after acquiring an additional 35,997 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Mirum Pharmaceuticals by 17.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 495,976 shares of the company’s stock worth $36,360,000 after acquiring an additional 72,232 shares in the last quarter.

Wall Street Analysts Forecast Growth

MIRM has been the subject of several research analyst reports. Evercore restated an “outperform” rating and issued a $138.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday. Citizens Jmp reissued a “market outperform” rating and issued a $132.00 target price on shares of Mirum Pharmaceuticals in a report on Tuesday, April 21st. Leerink Partners decreased their target price on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Raymond James Financial restated a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday. Finally, Wall Street Zen lowered Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.42.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM opened at $106.17 on Tuesday. The company has a 50-day simple moving average of $94.04 and a 200-day simple moving average of $86.57. Mirum Pharmaceuticals, Inc. has a one year low of $42.89 and a one year high of $112.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of -7.80 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (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 analysts’ expectations of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business’s quarterly revenue was up 43.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.30) EPS. On average, analysts predict that Mirum Pharmaceuticals, Inc. will post -8.25 EPS for the current year.

Insider Buying and Selling

In other news, SVP Jolanda Howe sold 4,732 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $435,249.36. Following the transaction, the senior vice president owned 8,429 shares of the company’s stock, valued at approximately $775,299.42. The trade was a 35.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joanne Quan sold 7,287 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the sale, the insider owned 18,864 shares of the company’s stock, valued at $1,735,110.72. This trade represents a 27.87% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 76,806 shares of company stock worth $7,064,616. 22.87% of the stock is currently owned by insiders.

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.