Bank of New York Mellon Corp Has $5.14 Million Stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Bank of New York Mellon Corp grew its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 124,328 shares of the company’s stock after acquiring an additional 9,629 shares during the period. Bank of New York Mellon Corp’s holdings in Mirum Pharmaceuticals were worth $5,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. R Squared Ltd acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $69,000. Avanza Fonder AB acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $189,000. Y Intercept Hong Kong Ltd acquired a new stake in Mirum Pharmaceuticals during the 3rd quarter worth approximately $215,000. FORA Capital LLC acquired a new stake in Mirum Pharmaceuticals during the 3rd quarter worth approximately $399,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $413,000.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MIRM shares. Robert W. Baird lifted their price target on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. HC Wainwright lifted their price objective on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 28th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Buy” and a consensus target price of $58.20.

Insider Activity

In related news, CEO Christopher Peetz sold 7,489 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total transaction of $320,678.98. Following the sale, the chief executive officer now owns 119,359 shares in the company, valued at $5,110,952.38. The trade was a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joanne Quan sold 6,969 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $45.86, for a total value of $319,598.34. Following the sale, the insider now owns 5,649 shares in the company, valued at $259,063.14. This represents a 55.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,915 shares of company stock worth $1,897,920. Insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $45.15 on Tuesday. The stock has a market capitalization of $2.21 billion, a PE ratio of -22.35 and a beta of 1.04. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The business has a fifty day moving average price of $47.51 and a two-hundred day moving average price of $43.59. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business had revenue of $99.41 million during the quarter, compared to the consensus estimate of $96.64 million. As a group, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

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.