Legal & General Group Plc Buys New Shares in Mirum Pharmaceuticals, Inc. $MIRM

Legal & General Group Plc purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 159,231 shares of the company’s stock, valued at approximately $18,641,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MIRM. Cullen Frost Bankers Inc. acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth about $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $32,000. CIBC Private Wealth Group LLC bought a new stake in Mirum Pharmaceuticals during the fourth quarter worth about $32,000. Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals during the third quarter worth about $33,000. Finally, Comerica Bank boosted its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wolfe Research started coverage on Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price objective on the stock. Morgan Stanley set a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. Royal Bank Of Canada dropped their price target on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. TD Cowen decreased 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. Finally, Wall Street Zen raised shares of Mirum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.31.

Mirum Pharmaceuticals Price Performance

MIRM opened at $97.46 on Monday. The stock’s fifty day simple moving average is $110.63 and its 200 day simple moving average is $101.80. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The stock has a market cap of $6.33 billion, a PE ratio of -6.70 and a beta of 0.52. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) earnings per share. As a group, research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the transaction, the chief financial officer owned 36,355 shares in the company, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 20,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $98.92, for a total transaction of $1,978,400.00. Following the completion of the transaction, the chief executive officer owned 194,309 shares in the company, valued at approximately $19,221,046.28. This trade represents a 9.33% 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. In the last 90 days, insiders sold 103,156 shares of company stock valued at $10,888,362. Company insiders own 8.32% of the company’s stock.

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.