William Blair Investment Management LLC Buys 23,442 Shares of Mirum Pharmaceuticals, Inc. $MIRM

William Blair Investment Management LLC grew its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 336,701 shares of the company’s stock after acquiring an additional 23,442 shares during the period. William Blair Investment Management LLC owned about 0.66% of Mirum Pharmaceuticals worth $26,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MIRM. Wellington Management Group LLP raised its stake in shares of 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 acquiring an additional 672,118 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Mirum Pharmaceuticals by 709.5% during 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 period. Voloridge Investment Management LLC increased its holdings in Mirum Pharmaceuticals by 2,116.6% during the third quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock valued at $28,560,000 after buying an additional 371,999 shares during the period. Balyasny Asset Management L.P. purchased a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $23,250,000. Finally, TimesSquare Capital Management LLC purchased a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $22,041,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MIRM. Leerink Partners cut their price objective on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Royal Bank Of Canada lifted their price objective on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Citizens Jmp reissued a “market outperform” rating and set a $132.00 price objective on shares of Mirum Pharmaceuticals in a report on Tuesday, April 21st. Robert W. Baird lifted their price objective on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $137.08.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $98.62 on Tuesday. The business’s fifty day simple moving average is $96.38 and its 200-day simple moving average is $88.73. The company has a market cap of $6.01 billion, a PE ratio of -7.25 and a beta of 0.52. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 12-month low of $42.89 and a 12-month high of $114.99.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued 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 business had revenue of $159.88 million for 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% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) earnings per share. Analysts expect that Mirum Pharmaceuticals, Inc. will post -2.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 7,287 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $670,258.26. Following the transaction, the chief financial officer directly owned 49,788 shares of the company’s stock, valued at approximately $4,579,500.24. This represents a 12.77% decrease in their ownership of the stock. The sale 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 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 transaction, the insider directly owned 18,864 shares in the company, valued at approximately $1,735,110.72. The trade was a 27.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 76,806 shares of company stock valued at $7,064,616. Corporate insiders own 14.36% of the company’s stock.

Mirum Pharmaceuticals Company 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.