Clearbridge Investments LLC Boosts Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Clearbridge Investments LLC lifted its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 907,317 shares of the company's stock after purchasing an additional 18,217 shares during the period. Clearbridge Investments LLC owned 1.89% of Mirum Pharmaceuticals worth $37,518,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Loomis Sayles & Co. L P boosted its stake in Mirum Pharmaceuticals by 15.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 578,024 shares of the company's stock worth $23,901,000 after buying an additional 78,708 shares during the last quarter. Congress Wealth Management LLC DE purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth $414,000. KLP Kapitalforvaltning AS acquired a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $277,000. Teacher Retirement System of Texas boosted its position in shares of Mirum Pharmaceuticals by 19.7% during the 4th quarter. Teacher Retirement System of Texas now owns 10,613 shares of the company's stock valued at $439,000 after acquiring an additional 1,748 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Mirum Pharmaceuticals by 1.9% in the fourth quarter. Swiss National Bank now owns 70,300 shares of the company's stock valued at $2,907,000 after purchasing an additional 1,300 shares during the period.

Insider Activity at Mirum Pharmaceuticals

In related news, SVP Jolanda Howe sold 57,606 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.35, for a total value of $2,554,826.10. Following the sale, the senior vice president now owns 4,841 shares of the company's stock, valued at $214,698.35. This trade represents a 92.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Peter Radovich sold 2,627 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 $126,673.94. Following the completion of the transaction, the chief operating officer now owns 26,961 shares of the company's stock, valued at $1,300,059.42. This represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,679 shares of company stock worth $6,007,081. Company insiders own 22.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MIRM shares. HC Wainwright raised their target price 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 lifted their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $58.20.

Mirum Pharmaceuticals Stock Down 2.8 %

Shares of MIRM traded down $1.20 during mid-day trading on Friday, hitting $42.03. 641,598 shares of the company's stock were exchanged, compared to its average volume of 518,292. The stock's 50-day moving average is $47.64 and its 200-day moving average is $44.02. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $54.23. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -20.81 and a beta of 1.00.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.22). The business had revenue of $99.41 million for the quarter, compared to analyst estimates of $96.64 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. On average, sell-side analysts anticipate 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.