Lord Abbett & CO. LLC Acquires 40,986 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Lord Abbett & CO. LLC lifted its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 782,354 shares of the company's stock after purchasing an additional 40,986 shares during the period. Lord Abbett & CO. LLC owned about 1.63% of Mirum Pharmaceuticals worth $32,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its position in Mirum Pharmaceuticals by 4.6% in the third quarter. Barclays PLC now owns 245,918 shares of the company's stock worth $9,592,000 after acquiring an additional 10,824 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Mirum Pharmaceuticals by 25.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 145,599 shares of the company's stock worth $6,021,000 after purchasing an additional 29,545 shares during the period. Avanza Fonder AB purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $189,000. Secure Asset Management LLC grew its holdings in Mirum Pharmaceuticals by 9.3% during the fourth quarter. Secure Asset Management LLC now owns 39,920 shares of the company's stock valued at $1,651,000 after purchasing an additional 3,406 shares during the period. Finally, R Squared Ltd purchased a new stake in Mirum Pharmaceuticals in the fourth quarter worth $69,000.

Mirum Pharmaceuticals Stock Up 0.8 %

MIRM opened at $40.80 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. Mirum Pharmaceuticals, Inc. has a one year low of $23.83 and a one year high of $54.23. The firm has a market capitalization of $2.02 billion, a P/E ratio of -20.20 and a beta of 1.00. The company has a fifty day moving average price of $44.12 and a 200-day moving average price of $44.01.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its 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). The company had revenue of $99.41 million for the quarter, compared to the consensus estimate of $96.64 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. Equities research analysts expect that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MIRM. HC Wainwright increased their price target on 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 increased their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $58.20.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 9,102 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $48.22, for a total transaction of $438,898.44. Following the sale, the chief executive officer now directly owns 115,920 shares of the company's stock, valued at approximately $5,589,662.40. The trade was a 7.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jolanda Howe sold 57,606 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $44.35, for a total value of $2,554,826.10. Following the transaction, the senior vice president now owns 4,841 shares in the company, valued at $214,698.35. This trade represents a 92.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,557 shares of company stock worth $4,726,040 in the last ninety days. 22.87% of the stock is owned by insiders.

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.

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