Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 936,197 shares of the company’s stock after buying an additional 29,017 shares during the period. Geode Capital Management LLC owned 1.95% of Mirum Pharmaceuticals worth $36,519,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MIRM. Raymond James & Associates grew its stake in Mirum Pharmaceuticals by 10.5% in the 2nd quarter. Raymond James & Associates now owns 144,214 shares of the company’s stock worth $4,931,000 after acquiring an additional 13,651 shares during the period. Bank of New York Mellon Corp grew its position in shares of Mirum Pharmaceuticals by 48.2% in the second quarter. Bank of New York Mellon Corp now owns 143,000 shares of the company’s stock valued at $4,889,000 after purchasing an additional 46,506 shares during the period. Commonwealth Equity Services LLC increased its stake in Mirum Pharmaceuticals by 17.1% in the second quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the company’s stock valued at $480,000 after purchasing an additional 2,050 shares during the last quarter. Rhumbline Advisers lifted its position in Mirum Pharmaceuticals by 48.5% during the second quarter. Rhumbline Advisers now owns 52,916 shares of the company’s stock worth $1,809,000 after buying an additional 17,279 shares during the period. Finally, Arizona State Retirement System boosted its stake in Mirum Pharmaceuticals by 10.6% in the 2nd quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock worth $315,000 after buying an additional 883 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MIRM. Leerink Partners upped their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Citigroup lifted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird raised their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $57.10.

Mirum Pharmaceuticals Stock Up 1.1 %

NASDAQ MIRM opened at $42.17 on Thursday. The stock has a market cap of $2.02 billion, a PE ratio of -20.88 and a beta of 1.20. The business has a 50 day moving average price of $42.32 and a two-hundred day moving average price of $39.68. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $48.89. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. During the same period last year, the business earned ($0.57) EPS. The business’s revenue was up 89.4% on a year-over-year basis. As a group, sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.46 EPS for the current fiscal year.

Insider Activity

In other news, SVP Jolanda Howe sold 2,500 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total value of $117,750.00. Following the sale, the senior vice president now owns 2,426 shares in the company, valued at approximately $114,264.60. This represents a 50.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.87% of the company’s stock.

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.