Mirum Pharmaceuticals, Inc. $MIRM Position Trimmed by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Mirum Pharmaceuticals by 2.7%, now holding 388,921 shares valued at approximately $17.5 million.
• CEO Christopher Peetz sold 40,000 shares for $2.48 million, resulting in a 22.39% decrease in his ownership stake.
• Mirum Pharmaceuticals reported a revenue increase of 64.1% year-over-year, totaling $127.79 million in their latest earnings report.

Northern Trust Corp trimmed its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388,921 shares of the company's stock after selling 10,623 shares during the quarter. Northern Trust Corp owned 0.79% of Mirum Pharmaceuticals worth $17,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MIRM. Nuveen LLC purchased a new position in Mirum Pharmaceuticals during the first quarter valued at approximately $29,495,000. Federated Hermes Inc. increased its stake in shares of Mirum Pharmaceuticals by 9,440.4% in the first quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock worth $15,649,000 after acquiring an additional 343,725 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Mirum Pharmaceuticals by 46.7% during the fourth quarter. Nuveen Asset Management LLC now owns 722,155 shares of the company's stock worth $29,861,000 after acquiring an additional 229,746 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Mirum Pharmaceuticals by 783.9% during the first quarter. Russell Investments Group Ltd. now owns 229,449 shares of the company's stock valued at $10,337,000 after purchasing an additional 203,489 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Mirum Pharmaceuticals by 101.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,276 shares of the company's stock valued at $16,050,000 after purchasing an additional 179,316 shares during the last quarter.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total value of $2,480,000.00. Following the sale, the chief executive officer directly owned 138,641 shares in the company, valued at $8,595,742. This trade represents a 22.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jolanda Howe sold 10,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the senior vice president directly owned 2,426 shares of the company's stock, valued at $140,708. This represents a 80.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,041 shares of company stock worth $5,320,624. 22.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MIRM has been the subject of several recent research reports. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. Evercore ISI lifted their target price on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. JMP Securities set a $81.00 price target on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. HC Wainwright raised their price target on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Mirum Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, Mirum Pharmaceuticals has an average rating of "Buy" and an average target price of $74.13.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $74.34 on Wednesday. The company has a market capitalization of $3.73 billion, a PE ratio of -61.44 and a beta of 0.92. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. Mirum Pharmaceuticals, Inc. has a one year low of $36.86 and a one year high of $75.74. The company's fifty day moving average price is $58.09 and its 200 day moving average price is $49.55.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The company had revenue of $127.79 million for the quarter, compared to the consensus estimate of $107.91 million. During the same period last year, the business posted ($0.52) earnings per share. The firm's revenue was up 64.1% compared to the same quarter last year. As a group, analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.

Want to see what other hedge funds are holding MIRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.