Connor Clark & Lunn Investment Management Ltd. Acquires 21,526 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 46.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 67,375 shares of the company's stock after purchasing an additional 21,526 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.14% of Mirum Pharmaceuticals worth $2,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MIRM. Quest Partners LLC increased its holdings in shares of Mirum Pharmaceuticals by 7,513.3% in the second quarter. Quest Partners LLC now owns 1,142 shares of the company's stock valued at $39,000 after purchasing an additional 1,127 shares in the last quarter. Amalgamated Bank boosted its position in Mirum Pharmaceuticals by 60.8% in the 2nd quarter. Amalgamated Bank now owns 1,357 shares of the company's stock valued at $46,000 after buying an additional 513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Mirum Pharmaceuticals by 22.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company's stock valued at $67,000 after buying an additional 318 shares during the period. ProShare Advisors LLC bought a new stake in shares of Mirum Pharmaceuticals during the second quarter worth $213,000. Finally, Creative Planning acquired a new position in shares of Mirum Pharmaceuticals during the third quarter valued at $249,000.

Mirum Pharmaceuticals Trading Down 1.0 %

Shares of MIRM traded down $0.46 during trading hours on Monday, reaching $44.27. The stock had a trading volume of 544,513 shares, compared to its average volume of 556,672. The firm has a 50-day moving average of $40.37 and a 200 day moving average of $36.89. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The company has a market cap of $2.13 billion, a P/E ratio of -21.92 and a beta of 1.16. Mirum Pharmaceuticals, Inc. has a 52 week low of $23.14 and a 52 week high of $48.89.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company had revenue of $90.38 million for the quarter, compared to analyst estimates of $81.99 million. During the same quarter last year, the firm posted ($0.57) earnings per share. Mirum Pharmaceuticals's revenue was up 89.4% compared to the same quarter last year. On average, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on MIRM shares. Evercore ISI lifted their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Citigroup lifted their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Robert W. Baird increased their price objective on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. HC Wainwright reaffirmed a "buy" rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Finally, Leerink Partners upped their target price 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. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $57.73.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 2,426 shares in the company, valued at approximately $114,264.60. This represents a 50.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.87% of the company's stock.

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.