Nuveen Asset Management LLC Has $29.86 Million Stock Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Nuveen Asset Management LLC raised its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 46.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,155 shares of the company's stock after buying an additional 229,746 shares during the period. Nuveen Asset Management LLC owned 1.50% of Mirum Pharmaceuticals worth $29,861,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. AlphaQuest LLC lifted its holdings in shares of Mirum Pharmaceuticals by 969.6% during the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock worth $76,000 after purchasing an additional 1,658 shares during the period. Golden State Equity Partners lifted its holdings in shares of Mirum Pharmaceuticals by 1,390.8% during the fourth quarter. Golden State Equity Partners now owns 19,380 shares of the company's stock worth $801,000 after purchasing an additional 18,080 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $277,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $413,000. Finally, Empowered Funds LLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $1,376,000.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $44.31 on Thursday. Mirum Pharmaceuticals, Inc. has a 52-week low of $23.83 and a 52-week high of $54.23. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The business's 50 day moving average price is $42.98 and its two-hundred day moving average price is $44.55. The firm has a market cap of $2.19 billion, a PE ratio of -21.94 and a beta of 0.95.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The firm had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. During the same quarter in the prior year, the business earned ($0.54) earnings per share. The business's quarterly revenue was up 61.2% compared to the same quarter last year. On average, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insider Activity

In other news, Director Patrick J. Heron bought 1,335 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $45.57 per share, with a total value of $60,835.95. Following the completion of the transaction, the director now directly owns 163,643 shares of the company's stock, valued at $7,457,211.51. This trade represents a 0.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Peetz sold 27,279 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.21, for a total value of $1,206,004.59. Following the transaction, the chief executive officer now directly owns 138,641 shares in the company, valued at $6,129,318.61. The trade was a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,764 shares of company stock worth $4,109,161. Company insiders own 14.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $73.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday. Robert W. Baird lifted their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Raymond James reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. Finally, JMP Securities boosted their target price on shares of Mirum Pharmaceuticals from $74.00 to $76.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $60.73.

Mirum Pharmaceuticals Profile

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.

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.