Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stake Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 162.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,960 shares of the company's stock after acquiring an additional 109,585 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.37% of Mirum Pharmaceuticals worth $7,317,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in Mirum Pharmaceuticals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock valued at $30,000 after acquiring an additional 357 shares in the last quarter. R Squared Ltd acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at approximately $69,000. AlphaQuest LLC grew its position in Mirum Pharmaceuticals by 969.6% in the fourth quarter. AlphaQuest LLC now owns 1,829 shares of the company's stock valued at $76,000 after acquiring an additional 1,658 shares in the last quarter. Avanza Fonder AB acquired a new stake in Mirum Pharmaceuticals in the fourth quarter valued at approximately $189,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Mirum Pharmaceuticals during the third quarter worth approximately $215,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MIRM. HC Wainwright lifted their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Robert W. Baird lifted their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $58.20.

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Insider Activity

In other news, CEO Christopher Peetz sold 7,489 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $320,678.98. Following the completion of the transaction, the chief executive officer now owns 119,359 shares of the company's stock, valued at approximately $5,110,952.38. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joanne Quan sold 6,969 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $45.86, for a total transaction of $319,598.34. Following the transaction, the insider now directly owns 5,649 shares of the company's stock, valued at approximately $259,063.14. This trade represents a 55.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,679 shares of company stock valued at $6,007,081. 22.87% of the stock is currently owned by company insiders.

Mirum Pharmaceuticals Stock Performance

MIRM stock traded up $2.82 during trading on Wednesday, hitting $47.13. 521,932 shares of the company's stock traded hands, compared to its average volume of 535,022. 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 stock has a fifty day moving average price of $47.55 and a two-hundred day moving average price of $43.60. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -23.33 and a beta of 1.04.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share 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 for the quarter, compared to the consensus estimate of $96.64 million. As a group, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal year.

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.