Wellington Management Group LLP Has $4.77 Million Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Wellington Management Group LLP increased its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 62.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,334 shares of the company's stock after purchasing an additional 46,918 shares during the period. Wellington Management Group LLP owned approximately 0.25% of Mirum Pharmaceuticals worth $4,771,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MIRM. Raymond James & Associates lifted its holdings in shares of Mirum Pharmaceuticals by 10.5% during the 2nd quarter. Raymond James & Associates now owns 144,214 shares of the company's stock valued at $4,931,000 after purchasing an additional 13,651 shares in the last quarter. Secure Asset Management LLC lifted its holdings in shares of Mirum Pharmaceuticals by 8.6% during the 2nd quarter. Secure Asset Management LLC now owns 45,904 shares of the company's stock valued at $1,569,000 after purchasing an additional 3,630 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mirum Pharmaceuticals by 48.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 143,000 shares of the company's stock valued at $4,889,000 after purchasing an additional 46,506 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Mirum Pharmaceuticals by 17.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the company's stock valued at $480,000 after purchasing an additional 2,050 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Mirum Pharmaceuticals by 48.5% during the 2nd quarter. Rhumbline Advisers now owns 52,916 shares of the company's stock valued at $1,809,000 after purchasing an additional 17,279 shares in the last quarter.

Wall Street Analysts Forecast Growth

MIRM has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Leerink Partners lifted their target price on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. HC Wainwright reissued a "buy" rating and issued a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Citigroup lifted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $57.73.

Mirum Pharmaceuticals Stock Performance

MIRM traded up $0.26 during trading on Tuesday, hitting $42.65. The stock had a trading volume of 279,097 shares, compared to its average volume of 543,799. The company has a 50 day moving average price of $42.04 and a 200-day moving average price of $39.10. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -21.11 and a beta of 1.20. Mirum Pharmaceuticals, Inc. has a one year low of $23.14 and a one year high of $48.89. 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 (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. The business had revenue of $90.38 million during the quarter, compared to the consensus estimate of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The firm's quarterly revenue was up 89.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.57) EPS. As a group, research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.48 EPS for the current year.

Insider Activity at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 2,500 shares of the company's stock in a transaction on 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 sale, the senior vice president now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. 22.87% of the stock is currently owned by corporate insiders.

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.