Northern Trust Corp Grows Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake 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 worth $30,000 after acquiring an additional 357 shares during the last quarter. R Squared Ltd acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $69,000. AlphaQuest LLC lifted its holdings in Mirum Pharmaceuticals by 969.6% in the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock valued at $76,000 after acquiring an additional 1,658 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Mirum Pharmaceuticals by 8.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,155 shares of the company's stock valued at $172,000 after acquiring an additional 312 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $189,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MIRM shares. JMP Securities raised 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. HC Wainwright increased their price objective on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Raymond James reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 13th. Finally, Robert W. Baird increased their price objective on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $60.64.

Mirum Pharmaceuticals Stock Performance

MIRM traded down $0.27 during trading on Friday, reaching $45.01. The company's stock had a trading volume of 219,847 shares, compared to its average volume of 524,834. Mirum Pharmaceuticals, Inc. has a 52-week low of $23.83 and a 52-week high of $54.23. The company's fifty day moving average price is $42.96 and its 200-day moving average price is $44.47. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -22.28 and a beta of 0.95. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. The business 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 quarterly revenue was up 61.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.54) EPS. On average, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other news, Director Patrick J. Heron bought 1,335 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $45.57 per share, with a total value of $60,835.95. Following the purchase, the director now owns 163,643 shares of the company's stock, valued at approximately $7,457,211.51. The trade was a 0.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher Peetz sold 27,279 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.21, for a total transaction of $1,206,004.59. Following the completion of the sale, the chief executive officer now directly owns 138,641 shares of the company's stock, 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. Insiders have sold 92,764 shares of company stock valued at $4,109,161 in the last quarter. 14.36% of the stock is currently owned by corporate insiders.

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.