State Street Corp Grows Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

State Street Corp increased its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 19.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,793,728 shares of the company’s stock after buying an additional 297,511 shares during the quarter. State Street Corp owned about 3.74% of Mirum Pharmaceuticals worth $69,955,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC raised its holdings in shares of Mirum Pharmaceuticals by 6.9% during the 2nd quarter. Rice Hall James & Associates LLC now owns 229,730 shares of the company’s stock worth $7,854,000 after acquiring an additional 14,843 shares during the period. Candriam S.C.A. acquired a new stake in Mirum Pharmaceuticals during the second quarter worth about $17,384,000. Charles Schwab Investment Management Inc. raised its stake in Mirum Pharmaceuticals by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock worth $12,798,000 after purchasing an additional 17,149 shares during the period. Bank of New York Mellon Corp boosted its holdings in Mirum Pharmaceuticals by 48.2% in the 2nd 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 last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Mirum Pharmaceuticals by 791.7% in the 3rd quarter. GSA Capital Partners LLP now owns 57,985 shares of the company’s stock valued at $2,261,000 after buying an additional 51,482 shares during the period.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $42.65 on Wednesday. Mirum Pharmaceuticals, Inc. has a 1 year low of $23.14 and a 1 year high of $48.89. The stock has a market capitalization of $2.05 billion, a PE ratio of -21.11 and a beta of 1.20. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The stock has a 50-day simple moving average of $42.04 and a 200-day simple moving average of $39.10.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. The company had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company’s quarterly revenue was up 89.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.57) EPS. On average, analysts predict that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MIRM shares. Leerink Partners lifted their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird upped their price target on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Citigroup raised their price objective on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $57.73.

Mirum Pharmaceuticals 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.