Lord Abbett & CO. LLC Has $32.35 Million Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Lord Abbett & CO. LLC boosted its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 782,354 shares of the company's stock after purchasing an additional 40,986 shares during the period. Lord Abbett & CO. LLC owned approximately 1.63% of Mirum Pharmaceuticals worth $32,350,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC grew its position in shares of Mirum Pharmaceuticals by 4.6% in the third quarter. Barclays PLC now owns 245,918 shares of the company's stock valued at $9,592,000 after purchasing an additional 10,824 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Mirum Pharmaceuticals by 25.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company's stock valued at $6,021,000 after acquiring an additional 29,545 shares during the period. Avanza Fonder AB bought a new position in shares of Mirum Pharmaceuticals in the fourth quarter valued at approximately $189,000. Secure Asset Management LLC boosted its stake in Mirum Pharmaceuticals by 9.3% in the fourth quarter. Secure Asset Management LLC now owns 39,920 shares of the company's stock worth $1,651,000 after purchasing an additional 3,406 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Mirum Pharmaceuticals during the 4th quarter worth about $69,000.

Analysts Set New Price Targets

MIRM has been the subject of a number of analyst reports. 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. HC Wainwright upped their price objective on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $58.20.

Insiders Place Their Bets

In related news, COO Peter Radovich sold 2,627 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $48.22, for a total value of $126,673.94. Following the completion of the transaction, the chief operating officer now owns 26,961 shares of the company's stock, valued at approximately $1,300,059.42. The trade was a 8.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jolanda Howe sold 57,606 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.35, for a total transaction of $2,554,826.10. Following the sale, the senior vice president now directly owns 4,841 shares of the company's stock, valued at $214,698.35. This represents a 92.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,557 shares of company stock worth $4,726,040 over the last 90 days. Corporate insiders own 22.87% of the company's stock.

Mirum Pharmaceuticals Trading Up 0.2 %

Shares of Mirum Pharmaceuticals stock traded up $0.10 on Friday, reaching $43.52. The company had a trading volume of 118,836 shares, compared to its average volume of 518,645. Mirum Pharmaceuticals, Inc. has a 1 year low of $23.83 and a 1 year high of $54.23. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -21.52 and a beta of 1.00. The firm's 50-day moving average price is $43.36 and its two-hundred day moving average price is $44.07.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The company had revenue of $99.41 million during the quarter, compared to analysts' expectations of $96.64 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. As a group, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Mirum Pharmaceuticals Company 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.