41,857 Shares in Mirum Pharmaceuticals, Inc. $MIRM Purchased by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans initiated a new position in Mirum Pharmaceuticals, buying 41,857 shares valued at about $3.3 million in the fourth quarter.
• Analyst sentiment remains mostly positive despite one downgrade: Mirum now has a consensus Buy rating with an average price target of $137.08, while Wolfe Research and others recently reiterated upbeat views.
• Mirum’s latest quarter showed strong revenue growth of 43.3% year over year to $159.88 million, but the company still posted a large EPS loss and missed earnings estimates by a wide margin.

Thrivent Financial for Lutherans purchased a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 41,857 shares of the company's stock, valued at approximately $3,306,000. Thrivent Financial for Lutherans owned approximately 0.08% of Mirum Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MIRM. Vanguard Group Inc. boosted its position in shares of Mirum Pharmaceuticals by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company's stock valued at $205,065,000 after buying an additional 50,720 shares during the period. Wellington Management Group LLP boosted its position 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 buying an additional 672,118 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of 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. Pictet Asset Management Holding SA boosted its position in shares of Mirum Pharmaceuticals by 6.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 577,274 shares of the company's stock valued at $45,599,000 after buying an additional 35,997 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Mirum Pharmaceuticals by 17.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 495,976 shares of the company's stock valued at $36,360,000 after buying an additional 72,232 shares during the period.

Analyst Ratings Changes

MIRM has been the subject of several recent analyst reports. Wall Street Zen lowered Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Wolfe Research initiated coverage on Mirum Pharmaceuticals in a research report on Tuesday. They set an "outperform" rating and a $145.00 target price for the company. Stifel Nicolaus set a $136.00 target price on Mirum Pharmaceuticals in a research report on Thursday, May 7th. Citizens Jmp restated a "market outperform" rating and set a $132.00 target price on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $137.08.

Mirum Pharmaceuticals Stock Performance

Shares of NASDAQ:MIRM opened at $98.62 on Friday. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of -7.25 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a 52 week low of $42.89 and a 52 week high of $114.99. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The firm has a 50 day moving average of $96.20 and a 200 day moving average of $88.41.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) EPS 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 the consensus estimate 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 quarterly revenue was up 43.3% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS. On average, sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -2.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 4,732 shares of the business's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $435,249.36. Following the completion of the transaction, the senior vice president owned 8,429 shares of the company's stock, valued at $775,299.42. The trade was a 35.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Peetz sold 40,985 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares of the company's stock, valued at $17,872,541.82. This trade represents a 17.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 76,806 shares of company stock valued at $7,064,616 over the last ninety days. Company 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.

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