Mirum Pharmaceuticals, Inc. $MIRM Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D cut its Mirum Pharmaceuticals stake by 58.2% in the fourth quarter, selling 17,940 shares and ending with 12,860 shares valued at about $1.02 million.
• Analysts remain generally bullish on MIRM, with several firms raising price targets; the stock now has a consensus Moderate Buy rating and an average target of $136.42.
• Mirum posted mixed quarterly results, beating revenue expectations at $159.9 million but reporting a much larger-than-expected EPS loss of $13.43 per share. Insiders also sold shares recently, including the SVP and CFO, as the stock traded around $106.17.

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 58.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,860 shares of the company's stock after selling 17,940 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Mirum Pharmaceuticals were worth $1,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its stake in Mirum Pharmaceuticals by 30.8% during the third quarter. CWM LLC now owns 683 shares of the company's stock worth $50,000 after buying an additional 161 shares during the period. MCF Advisors LLC raised its stake in shares of Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company's stock valued at $31,000 after acquiring an additional 185 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Mirum Pharmaceuticals by 34.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 957 shares of the company's stock worth $70,000 after acquiring an additional 243 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Mirum Pharmaceuticals by 2.6% in the 3rd quarter. Arizona State Retirement System now owns 10,984 shares of the company's stock worth $805,000 after acquiring an additional 275 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after purchasing an additional 278 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MIRM. TD Cowen boosted their target price on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday. Raymond James Financial restated a "strong-buy" rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday. Stifel Nicolaus set a $136.00 price objective on Mirum Pharmaceuticals in a research note on Thursday. Robert W. Baird increased their target price on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $136.42.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $106.17 on Tuesday. Mirum Pharmaceuticals, Inc. has a 52 week low of $42.89 and a 52 week high of $112.00. The company has a fifty day simple moving average of $94.04 and a two-hundred day simple moving average of $86.57. 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 company has a market cap of $6.47 billion, a price-to-earnings ratio of -7.80 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data 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 net margin of 140.24% and a negative return on equity of 11.28%. The company had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The firm's revenue was up 43.3% on a year-over-year basis. As a group, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -8.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Jolanda Howe sold 4,732 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was 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 in the company, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Eric Bjerkholt sold 7,287 shares of the company'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 $670,258.26. Following the sale, the chief financial officer owned 49,788 shares in the company, valued at $4,579,500.24. The trade was a 12.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 76,806 shares of company stock worth $7,064,616 over the last ninety days. Company insiders own 22.87% 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.

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