Allspring Global Investments Holdings LLC Acquires New Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,981 shares of the company’s stock, valued at approximately $413,000.

Other institutional investors have also made changes to their positions in the company. Frazier Life Sciences Management L.P. grew its holdings in shares of Mirum Pharmaceuticals by 1.2% in the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock valued at $256,245,000 after purchasing an additional 75,000 shares in the last quarter. State Street Corp increased its holdings in shares of Mirum Pharmaceuticals by 19.9% in the 3rd quarter. State Street Corp now owns 1,793,728 shares of the company’s stock valued at $69,955,000 after acquiring an additional 297,511 shares during the period. Geode Capital Management LLC increased its stake in Mirum Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock valued at $36,519,000 after buying an additional 29,017 shares during the period. Lord Abbett & CO. LLC acquired a new position in Mirum Pharmaceuticals in the 3rd quarter valued at $28,913,000. Finally, Loomis Sayles & Co. L P acquired a new position in Mirum Pharmaceuticals in the 3rd quarter valued at $19,473,000.

Mirum Pharmaceuticals Stock Down 2.9 %

Shares of NASDAQ:MIRM opened at $50.95 on Tuesday. 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, Inc. has a 52-week low of $23.14 and a 52-week high of $54.23. The company has a 50 day moving average of $46.38 and a two-hundred day moving average of $43.20. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -25.22 and a beta of 0.96.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Citigroup increased their price objective on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $57.10.

Insider Activity

In other news, COO Peter Radovich sold 2,627 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $48.22, for a total transaction of $126,673.94. Following the completion of the transaction, the chief operating officer now directly owns 26,961 shares in the company, valued at approximately $1,300,059.42. This represents a 8.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Peetz sold 7,489 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $320,678.98. Following the transaction, the chief executive officer now owns 119,359 shares in the company, valued at $5,110,952.38. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,915 shares of company stock worth $1,897,920. 22.87% of the stock is currently owned by insiders.

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.