California State Teachers Retirement System Has $5.62 Million Stock Position in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• California State Teachers Retirement System increased its Mirum Pharmaceuticals stake by 8% in the second quarter, bringing its holdings to 48,031 shares valued at approximately $5.62 million. Several major institutions, including BlackRock and Jupiter Topco, also established or expanded positions.
• Mirum shares recently fell 2.9% to $93.91 after the company reported a quarterly EPS loss of $1.06, missing estimates, although revenue rose 37.9% year over year to $176.24 million.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $137.31, while insiders have sold 128,814 shares worth about $13.45 million over the past 90 days.

California State Teachers Retirement System boosted its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 8.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,031 shares of the company's stock after buying an additional 3,555 shares during the quarter. California State Teachers Retirement System owned approximately 0.07% of Mirum Pharmaceuticals worth $5,622,989 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MIRM. Jupiter Topco LLC bought a new stake in Mirum Pharmaceuticals in the second quarter valued at approximately $691,672,000. BlackRock Inc. purchased a new position in Mirum Pharmaceuticals during the second quarter valued at approximately $513,945,000. William Blair Investment Management LLC acquired a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at about $164,453,000. Janus Henderson Group PLC boosted its position in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock worth $641,764,000 after purchasing an additional 880,505 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Mirum Pharmaceuticals during the second quarter worth approximately $78,434,000.

Mirum Pharmaceuticals Stock Down 2.9%

Shares of MIRM stock traded down $2.85 during trading on Tuesday, reaching $93.91. The company's stock had a trading volume of 365,151 shares, compared to its average volume of 842,603. The stock's 50-day moving average price is $106.31 and its 200 day moving average price is $101.45. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -6.46 and a beta of 0.49. Mirum Pharmaceuticals, Inc. has a 1-year low of $63.23 and a 1-year high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The firm had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. During the same quarter last year, the business posted ($0.12) EPS. The firm's revenue was up 37.9% compared to the same quarter last year. On average, research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total value of $4,000,000.00. Following the completion of the sale, the senior vice president directly owned 1,274 shares of the company's stock, valued at approximately $127,400. The trade was a 96.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals 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 directly owned 36,355 shares of the company's stock, valued at $3,631,864.50. The trade was a 14.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 128,814 shares of company stock worth $13,445,462 over the last 90 days. Insiders own 8.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley set a $137.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. Wolfe Research initiated coverage on Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They issued an "outperform" rating and a $145.00 price objective for the company. CLSA set a $146.00 price objective on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. UBS Group set a $137.00 price target on Mirum Pharmaceuticals in a research report on Thursday, August 27th. Finally, Royal Bank Of Canada dropped their price objective on Mirum Pharmaceuticals from $148.00 to $135.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $137.31.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, with an emphasis on liver and gastrointestinal disorders. The company's medicines are intended to address serious conditions for which available treatment options are limited.

Mirum's lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor approved in the United States for the treatment of cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible patients.

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