New York State Common Retirement Fund reduced its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM – Get Rating) by 73.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,450 shares of the company’s stock after selling 4,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Mirum Pharmaceuticals were worth $32,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MIRM. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Mirum Pharmaceuticals during the 1st quarter valued at about $41,000. PDT Partners LLC purchased a new stake in Mirum Pharmaceuticals during the 4th quarter valued at about $347,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Mirum Pharmaceuticals by 6.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 25,322 shares of the company’s stock valued at $404,000 after acquiring an additional 1,574 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Mirum Pharmaceuticals during the 4th quarter valued at about $409,000. Finally, Victory Capital Management Inc. purchased a new stake in Mirum Pharmaceuticals during the 1st quarter valued at about $1,087,000. 87.68% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Mirum Pharmaceuticals
In other news, major shareholder James E. Flynn sold 38,478 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $25.01, for a total value of $962,334.78. Following the completion of the transaction, the insider now owns 1,540,190 shares of the company’s stock, valued at approximately $38,520,151.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 33.27% of the company’s stock.
Mirum Pharmaceuticals Stock Performance
Shares of NASDAQ:MIRM opened at $24.28 on Tuesday. Mirum Pharmaceuticals, Inc. has a 52-week low of $12.82 and a 52-week high of $30.55. The firm has a market capitalization of $892.17 million, a P/E ratio of -14.72 and a beta of 1.44. The stock has a 50 day moving average price of $22.97 and a 200-day moving average price of $23.39.
Mirum Pharmaceuticals (NASDAQ:MIRM – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.21. Mirum Pharmaceuticals had a negative return on equity of 139.72% and a negative net margin of 137.85%. The firm had revenue of $17.48 million during the quarter, compared to analyst estimates of $15.67 million. On average, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -4.27 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have weighed in on MIRM shares. SVB Leerink increased their price objective on Mirum Pharmaceuticals from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, May 24th. HC Wainwright dropped their price objective on Mirum Pharmaceuticals from $69.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, August 11th. Four 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, the company presently has an average rating of “Buy” and an average target price of $50.60.
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. The company’s lead product candidate is LIVMARLI, an investigational oral drug for the treatment of progressive familial intrahepatic cholestasis disease, as well as for the treatment of Alagille syndrome and biliary atresia disease.
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