Connor Clark & Lunn Investment Management Ltd. Acquires 109,585 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 162.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,960 shares of the company’s stock after buying an additional 109,585 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.37% of Mirum Pharmaceuticals worth $7,317,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. State Street Corp raised its holdings in Mirum Pharmaceuticals by 19.9% during the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after acquiring an additional 297,511 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Mirum Pharmaceuticals by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,161 shares of the company’s stock worth $12,798,000 after purchasing an additional 17,149 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mirum Pharmaceuticals by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 936,197 shares of the company’s stock valued at $36,519,000 after buying an additional 29,017 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted 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 valued at $6,021,000 after buying an additional 29,545 shares during the last quarter. Finally, Golden State Equity Partners increased its holdings in Mirum Pharmaceuticals by 1,390.8% during the fourth quarter. Golden State Equity Partners now owns 19,380 shares of the company’s stock worth $801,000 after buying an additional 18,080 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on MIRM. HC Wainwright increased their price target on shares of Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Robert W. Baird raised their target price on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $58.20.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 9,102 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $48.22, for a total transaction of $438,898.44. Following the transaction, the chief executive officer now owns 115,920 shares in the company, valued at $5,589,662.40. This represents a 7.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Patrick J. Heron bought 1,335 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $45.57 per share, for a total transaction of $60,835.95. Following the completion of the acquisition, the director now directly owns 163,643 shares of the company’s stock, valued at approximately $7,457,211.51. This trade represents a 0.82 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 40,915 shares of company stock valued at $1,897,920. 22.87% of the stock is currently owned by corporate insiders.

Mirum Pharmaceuticals Stock Down 0.6 %

Shares of MIRM opened at $44.28 on Friday. The firm’s 50-day simple moving average is $47.47 and its 200 day simple moving average is $43.57. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The firm has a market cap of $2.17 billion, a P/E ratio of -21.92 and a beta of 1.04. Mirum Pharmaceuticals, Inc. has a 52 week low of $23.14 and a 52 week high of $54.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). The firm had revenue of $99.41 million for the quarter, compared to the consensus estimate 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, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

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.