Northern Trust Corp Acquires 32,059 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Northern Trust Corp lifted its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 399,544 shares of the company's stock after purchasing an additional 32,059 shares during the quarter. Northern Trust Corp owned about 0.83% of Mirum Pharmaceuticals worth $16,521,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Jones Financial Companies Lllp increased its position in shares of Mirum Pharmaceuticals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock valued at $30,000 after buying an additional 357 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $69,000. AlphaQuest LLC raised its holdings in shares of Mirum Pharmaceuticals by 969.6% during the 4th quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock valued at $76,000 after buying an additional 1,658 shares during the period. Summit Investment Advisors Inc. increased its holdings in Mirum Pharmaceuticals by 8.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock worth $172,000 after purchasing an additional 312 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $189,000.

Insiders Place Their Bets

In related news, Director Patrick J. Heron bought 1,335 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $45.57 per share, for a total transaction of $60,835.95. Following the transaction, the director now directly owns 163,643 shares of the company's stock, valued at $7,457,211.51. This represents a 0.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher Peetz sold 27,279 shares of the firm'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 owns 138,641 shares of the company's stock, valued at $6,129,318.61. This trade represents a 16.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,764 shares of company stock worth $4,109,161. 14.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Mirum Pharmaceuticals Stock Performance

MIRM stock traded up $0.25 during midday trading on Tuesday, hitting $45.14. 6,587 shares of the company traded hands, compared to its average volume of 490,245. Mirum Pharmaceuticals, Inc. has a twelve month low of $23.83 and a twelve month high of $54.23. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -22.34 and a beta of 0.95. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The business has a 50 day simple moving average of $42.96 and a 200-day simple moving average of $44.54.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.05. The firm had revenue of $111.59 million for the quarter, compared to analyst estimates of $98.47 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company's revenue was up 61.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.54) EPS. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current 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.