Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stake Increased by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRMFree Report) by 672.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 211,111 shares of the company’s stock after buying an additional 183,798 shares during the period. California State Teachers Retirement System owned about 0.45% of Mirum Pharmaceuticals worth $6,232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Swiss National Bank increased its stake in shares of Mirum Pharmaceuticals by 1.3% in the third quarter. Swiss National Bank now owns 54,400 shares of the company’s stock worth $1,719,000 after buying an additional 700 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Mirum Pharmaceuticals by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 222,864 shares of the company’s stock worth $6,579,000 after purchasing an additional 918 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Mirum Pharmaceuticals by 5.3% in the third quarter. Janney Montgomery Scott LLC now owns 18,925 shares of the company’s stock worth $598,000 after purchasing an additional 950 shares during the period. Golden State Equity Partners boosted its holdings in Mirum Pharmaceuticals by 5.3% in the fourth quarter. Golden State Equity Partners now owns 18,930 shares of the company’s stock worth $559,000 after purchasing an additional 950 shares during the period. Finally, AJOVista LLC acquired a new position in Mirum Pharmaceuticals in the fourth quarter worth $40,000.

Mirum Pharmaceuticals Stock Performance

MIRM stock opened at $25.55 on Tuesday. The company has a market capitalization of $1.20 billion, a P/E ratio of -6.89 and a beta of 1.10. The company has a 50-day simple moving average of $25.03 and a 200 day simple moving average of $27.39. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $35.56. The company has a quick ratio of 3.47, a current ratio of 3.68 and a debt-to-equity ratio of 1.31.

Mirum Pharmaceuticals (NASDAQ:MIRMGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.14). The company had revenue of $69.22 million during the quarter, compared to analyst estimates of $69.71 million. Mirum Pharmaceuticals had a negative return on equity of 56.46% and a negative net margin of 69.67%. Sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Saira Ramasastry sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $25.68, for a total value of $128,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt purchased 2,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were purchased at an average cost of $25.80 per share, for a total transaction of $51,600.00. Following the completion of the transaction, the chief financial officer now owns 12,000 shares in the company, valued at $309,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Saira Ramasastry sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The disclosure for this sale can be found here. Corporate insiders own 22.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MIRM. Morgan Stanley decreased their price objective on shares of Mirum Pharmaceuticals from $57.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, May 10th. SVB Leerink decreased their price objective on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 9th. HC Wainwright reissued a “buy” rating and set a $58.00 price target on shares of Mirum Pharmaceuticals in a report on Monday, June 3rd. Finally, JMP Securities reduced their price target on shares of Mirum Pharmaceuticals from $72.00 to $66.00 and set a “market outperform” rating for the company in a report on Thursday, May 9th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Mirum Pharmaceuticals has an average rating of “Buy” and an average target price of $49.73.

View Our Latest Stock Report on Mirum Pharmaceuticals

Mirum Pharmaceuticals Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Mirum Pharmaceuticals (NASDAQ:MIRM)

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