Mirum Pharmaceuticals, Inc. $MIRM Stock Holdings Increased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 81.2% in the 1st quarter, Holdings Channel reports. The firm owned 57,369 shares of the company’s stock after buying an additional 25,710 shares during the period. Principal Financial Group Inc.’s holdings in Mirum Pharmaceuticals were worth $5,300,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MIRM. Cullen Frost Bankers Inc. acquired a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $32,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter valued at $32,000. Quantbot Technologies LP acquired a new position in shares of Mirum Pharmaceuticals in the 3rd quarter valued at $33,000. Finally, Summit Securities Group LLC acquired a new position in shares of Mirum Pharmaceuticals in the 1st quarter valued at $42,000.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 2,721 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total transaction of $326,520.00. Following the transaction, the senior vice president directly owned 3,114 shares of the company’s stock, valued at approximately $373,680. The trade was a 46.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the completion of the transaction, the chief executive officer owned 194,309 shares in the company, valued at approximately $18,622,574.56. This represents a 13.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 65,315 shares of company stock valued at $6,991,928. Corporate insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Trading Down 1.7%

Shares of NASDAQ MIRM opened at $112.23 on Wednesday. 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 one year low of $50.25 and a one year high of $130.00. The business has a 50-day moving average price of $109.47 and a two-hundred day moving average price of $101.00. The firm has a market capitalization of $6.84 billion, a PE ratio of -8.25 and a beta of 0.48.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The business had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. Mirum Pharmaceuticals’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. As a group, analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. CLSA set a $146.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Evercore restated an “outperform” rating and set a $138.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Royal Bank Of Canada upped their price target on shares of Mirum Pharmaceuticals from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Wolfe Research initiated coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price objective for the company. Finally, Weiss Ratings downgraded shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. One 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.40.

About Mirum Pharmaceuticals

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.