Fisher Asset Management LLC Makes New $1.11 Million Investment in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Fisher Asset Management opened a new position in Mirum Pharmaceuticals during the fourth quarter, buying 14,089 shares worth about $1.11 million.
• Several other institutions also added to or initiated stakes in the company, while insider selling was notable: CEO Christopher Peetz and insider Joanne Quan both sold shares, and insiders sold 76,806 shares over the last quarter.
• Mirum shares were trading around $101.50 after a 1.9% move, and analysts remain broadly positive with a Moderate Buy consensus and average price target of $137.08.

Fisher Asset Management LLC purchased a new position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,089 shares of the company's stock, valued at approximately $1,113,000.

A number of other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc boosted its stake in Mirum Pharmaceuticals by 0.7% during the fourth quarter. Legal & General Group Plc now owns 168,393 shares of the company's stock worth $13,301,000 after buying an additional 1,163 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Mirum Pharmaceuticals by 7.5% during the fourth quarter. William Blair Investment Management LLC now owns 336,701 shares of the company's stock worth $26,596,000 after buying an additional 23,442 shares in the last quarter. MQS Management LLC acquired a new stake in Mirum Pharmaceuticals during the fourth quarter worth $229,000. Legato Capital Management LLC boosted its stake in Mirum Pharmaceuticals by 27.6% during the fourth quarter. Legato Capital Management LLC now owns 44,124 shares of the company's stock worth $3,485,000 after buying an additional 9,557 shares in the last quarter. Finally, PSP Research LLC acquired a new stake in Mirum Pharmaceuticals during the fourth quarter worth $541,000.

Insider Activity

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,985 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the sale, the chief executive officer owned 194,309 shares of the company's stock, valued at $17,872,541.82. This represents a 17.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joanne Quan sold 7,287 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $670,258.26. Following the sale, the insider directly owned 18,864 shares in the company, valued at approximately $1,735,110.72. This represents a 27.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 76,806 shares of company stock worth $7,064,616. 14.36% of the stock is currently owned by insiders.

Mirum Pharmaceuticals Stock Up 1.9%

Shares of NASDAQ:MIRM opened at $101.50 on Friday. Mirum Pharmaceuticals, Inc. has a 52 week low of $43.30 and a 52 week high of $114.99. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. The company's fifty day moving average is $96.89 and its 200-day moving average is $89.45. The company has a market capitalization of $6.19 billion, a PE ratio of -7.46 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The company had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. During the same quarter last year, the company earned ($0.30) EPS. The firm's quarterly revenue was up 43.3% on a year-over-year basis. Equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -2.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MIRM shares. Evercore reiterated an "outperform" rating and set a $138.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Royal Bank Of Canada boosted their target price on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the company an "outperform" rating in a research note on Thursday, May 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 target price on the stock. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings downgraded shares of Mirum Pharmaceuticals from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $137.08.

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.

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