Arizona State Retirement System Grows Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Arizona State Retirement System boosted its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 19.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,413 shares of the company’s stock after buying an additional 1,375 shares during the quarter. Arizona State Retirement System’s holdings in Mirum Pharmaceuticals were worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Eventide Asset Management LLC raised its position in Mirum Pharmaceuticals by 14.4% during the third quarter. Eventide Asset Management LLC now owns 3,958,579 shares of the company’s stock worth $125,091,000 after acquiring an additional 499,378 shares during the last quarter. BlackRock Inc. raised its position in Mirum Pharmaceuticals by 18.7% during the second quarter. BlackRock Inc. now owns 2,030,375 shares of the company’s stock worth $52,526,000 after acquiring an additional 320,549 shares during the last quarter. Vanguard Group Inc. raised its position in Mirum Pharmaceuticals by 6.2% during the third quarter. Vanguard Group Inc. now owns 1,693,343 shares of the company’s stock worth $53,510,000 after acquiring an additional 98,685 shares during the last quarter. State Street Corp raised its position in Mirum Pharmaceuticals by 27.7% during the second quarter. State Street Corp now owns 1,494,417 shares of the company’s stock worth $38,661,000 after acquiring an additional 323,992 shares during the last quarter. Finally, Cadian Capital Management LP raised its position in Mirum Pharmaceuticals by 13.4% during the third quarter. Cadian Capital Management LP now owns 1,434,922 shares of the company’s stock worth $45,344,000 after acquiring an additional 170,000 shares during the last quarter.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $23.81 on Monday. Mirum Pharmaceuticals, Inc. has a 1 year low of $23.29 and a 1 year high of $35.56. The firm has a 50 day moving average price of $26.89 and a 200 day moving average price of $28.48. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -6.00 and a beta of 1.14. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.19 and a current ratio of 4.45.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 86.33% and a negative return on equity of 66.24%. The company had revenue of $69.55 million during the quarter, compared to analysts’ expectations of $66.73 million. Sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.29 earnings per share for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was bought at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the completion of the purchase, the chief financial officer now directly owns 14,000 shares in the company, valued at $347,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mirum Pharmaceuticals news, COO Peter Radovich sold 4,303 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $25.80, for a total transaction of $111,017.40. Following the completion of the sale, the chief operating officer now directly owns 29,013 shares in the company, valued at $748,535.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Eric Bjerkholt acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were acquired at an average price of $24.80 per share, with a total value of $49,600.00. Following the completion of the purchase, the chief financial officer now owns 14,000 shares of the company’s stock, valued at $347,200. The disclosure for this purchase can be found here. 24.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MIRM has been the subject of a number of research reports. JMP Securities lifted their target price on shares of Mirum Pharmaceuticals from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, February 29th. HC Wainwright reissued a “buy” rating and issued a $58.00 price objective on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 2nd. Stifel Nicolaus started coverage on shares of Mirum Pharmaceuticals in a research report on Wednesday, April 17th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, SVB Leerink cut their price objective on shares of Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $51.70.

About Mirum Pharmaceuticals

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.