Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Mirum Pharmaceuticals, Inc. $MIRM

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 420,063 shares of the company’s stock, valued at approximately $49,177,000.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in shares of Mirum Pharmaceuticals by 14.5% in the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after purchasing an additional 880,505 shares in the last quarter. BlackRock Inc. purchased a new stake in Mirum Pharmaceuticals during the 2nd quarter worth about $513,945,000. Vanguard Group Inc. boosted its stake in Mirum Pharmaceuticals by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock worth $205,065,000 after purchasing an additional 50,720 shares during the period. State Street Corp boosted its stake in Mirum Pharmaceuticals by 59.2% in the 4th quarter. State Street Corp now owns 2,143,992 shares of the company’s stock worth $169,354,000 after purchasing an additional 797,088 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Mirum Pharmaceuticals by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company’s stock valued at $112,196,000 after buying an additional 137,087 shares in the last quarter.

Insiders Place Their Bets

In other news, SVP Jolanda Howe sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total value of $4,000,000.00. Following the sale, the senior vice president directly owned 1,274 shares in the company, valued at approximately $127,400. This trade represents a 96.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the transaction, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. This trade represents a 14.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 133,156 shares of company stock worth $13,763,562. 8.32% of the stock is currently owned by company insiders.

Mirum Pharmaceuticals Stock Up 0.4%

Shares of NASDAQ MIRM opened at $96.72 on Tuesday. Mirum Pharmaceuticals, Inc. has a one year low of $63.23 and a one year high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74. The firm’s 50 day simple moving average is $111.11 and its two-hundred day simple moving average is $101.87. The stock has a market capitalization of $6.28 billion, a P/E ratio of -6.65 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The company had revenue of $176.24 million during the quarter, compared to analysts’ expectations of $166.33 million. During the same quarter in the prior year, the firm posted ($0.12) EPS. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. As a group, analysts expect that Mirum Pharmaceuticals, Inc. will post -1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

MIRM has been the topic of several analyst reports. Raymond James Financial reiterated a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Royal Bank Of Canada reduced their price objective on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Wolfe Research started coverage on shares of Mirum Pharmaceuticals in a report on Tuesday, May 19th. They set an “outperform” rating and a $145.00 target price on the stock. Evercore reiterated an “outperform” rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Finally, HC Wainwright cut their price target on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.33.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.