159,231 Shares in Mirum Pharmaceuticals, Inc. $MIRM Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 159,231 shares of the company’s stock, valued at approximately $18,641,000. Legal & General Group Plc owned about 0.25% of Mirum Pharmaceuticals at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Mirum Pharmaceuticals during the 2nd quarter worth about $513,945,000. William Blair Investment Management LLC acquired a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $164,453,000. Janus Henderson Group PLC boosted its stake 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 worth $479,050,000 after acquiring an additional 1,067,722 shares during the last quarter. State Street Corp boosted its stake in Mirum Pharmaceuticals by 59.2% during the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after acquiring an additional 797,088 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Mirum Pharmaceuticals by 566.8% during the third quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock valued at $57,965,000 after purchasing an additional 672,118 shares during the period.

Analyst Ratings Changes

Several equities research analysts have commented on MIRM shares. 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. TD Cowen lowered their price objective on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. CLSA set a $146.00 price objective on Mirum Pharmaceuticals in a research note on Monday, June 15th. Raymond James Financial reiterated a “strong-buy” rating and set a $165.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Finally, Robert W. Baird set a $123.00 target price on Mirum Pharmaceuticals in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.31.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the senior vice president directly owned 1,274 shares of the company’s stock, valued at $127,400. This represents a 96.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Peetz sold 20,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $98.92, for a total value of $1,978,400.00. Following the transaction, the chief executive officer owned 194,309 shares of the company’s stock, valued at approximately $19,221,046.28. The trade was a 9.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 103,156 shares of company stock valued at $10,888,362 in the last 90 days. 8.32% of the stock is currently owned by company insiders.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $97.46 on Monday. The firm has a market cap of $6.33 billion, a P/E ratio of -6.70 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a twelve month low of $63.23 and a twelve month high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. The firm’s 50 day moving average price is $110.63 and its two-hundred day moving average price is $101.80.

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

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.