Principal Financial Group Inc. Cuts Stock Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Principal Financial Group Inc. cut its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 15.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,001 shares of the company’s stock after selling 1,326 shares during the period. Principal Financial Group Inc.’s holdings in Mirum Pharmaceuticals were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MIRM. Victory Capital Management Inc. purchased a new stake in Mirum Pharmaceuticals during the fourth quarter worth about $594,000. Swiss National Bank increased its stake in Mirum Pharmaceuticals by 9.0% during the fourth quarter. Swiss National Bank now owns 59,300 shares of the company’s stock worth $1,751,000 after purchasing an additional 4,900 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Mirum Pharmaceuticals by 18.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 266,681 shares of the company’s stock worth $7,872,000 after purchasing an additional 42,110 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Mirum Pharmaceuticals by 27.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 24,100 shares of the company’s stock worth $711,000 after buying an additional 5,175 shares during the period. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth approximately $280,000.

Mirum Pharmaceuticals Trading Down 0.0 %

Shares of MIRM stock opened at $41.12 on Monday. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $45.23. The stock has a market cap of $1.94 billion, a P/E ratio of -11.08 and a beta of 1.14. The business has a fifty day simple moving average of $40.59 and a 200-day simple moving average of $31.69. The company has a quick ratio of 3.09, a current ratio of 3.28 and a debt-to-equity ratio of 1.34.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative net margin of 40.34% and a negative return on equity of 43.47%. The firm had revenue of $77.90 million during the quarter, compared to analysts’ expectations of $75.03 million. During the same quarter in the prior year, the business earned ($0.92) EPS. The company’s quarterly revenue was up 107.7% compared to the same quarter last year. On average, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Pamela Vig sold 30,559 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the completion of the sale, the insider now owns 27,406 shares in the company, valued at approximately $931,804. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 22.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MIRM shares. Cantor Fitzgerald upped their target price on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a report on Friday, July 26th. Citigroup increased their price objective on Mirum Pharmaceuticals from $38.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price objective on shares of Mirum Pharmaceuticals in a report on Monday, June 17th. Finally, JMP Securities increased their price objective on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the company a “market outperform” rating in a report on Tuesday, June 18th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $56.27.

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.