Mirum Pharmaceuticals, Inc. $MIRM Stake Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 81.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,369 shares of the company’s stock after purchasing an additional 25,710 shares during the quarter. Principal Financial Group Inc. owned about 0.09% of Mirum Pharmaceuticals worth $5,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in Mirum Pharmaceuticals by 21.4% during the 4th 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 during the period. State Street Corp lifted its stake in Mirum Pharmaceuticals by 59.2% in the fourth quarter. State Street Corp now owns 2,143,992 shares of the company’s stock valued at $169,354,000 after buying an additional 797,088 shares during the last quarter. Wellington Management Group LLP lifted its stake in Mirum Pharmaceuticals by 566.8% in the third 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Mirum Pharmaceuticals by 709.5% in the third 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. Finally, Voloridge Investment Management LLC grew its position in shares of Mirum Pharmaceuticals by 2,116.6% during the third quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock worth $28,560,000 after acquiring an additional 371,999 shares during the last quarter.

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the sale, the chief executive officer owned 194,309 shares of the company’s stock, valued at $18,622,574.56. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, July 6th. The shares were sold at an average price of $122.25, for a total value of $611,250.00. Following the transaction, the chief financial officer owned 42,181 shares in the company, valued at approximately $5,156,627.25. This trade represents a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,315 shares of company stock worth $6,991,928 over the last quarter. 8.32% of the stock is currently owned by company insiders.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $112.23 on Wednesday. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $130.00. The firm’s 50-day simple moving average is $109.47 and its 200 day simple moving average is $101.00. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The stock has a market cap of $6.84 billion, a P/E ratio of -8.25 and a beta of 0.48.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The company had revenue of $159.88 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 43.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) EPS. Equities analysts expect that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Royal Bank Of Canada upped their target price on shares of Mirum Pharmaceuticals from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Stifel Nicolaus set a $136.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. HC Wainwright reaffirmed a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Finally, TD Cowen boosted their price objective on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.40.

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.