Norges Bank Makes New Investment in Mirum Pharmaceuticals, Inc. $MIRM

Norges Bank acquired a new position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) during the fourth quarter, HoldingsChannel reports. The fund acquired 263,175 shares of the company’s stock, valued at approximately $20,788,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Mirum Pharmaceuticals by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock worth $205,065,000 after acquiring an additional 50,720 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Mirum Pharmaceuticals by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,062,926 shares of the company’s stock worth $83,975,000 after acquiring an additional 52,904 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Mirum Pharmaceuticals by 566.8% during the third quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock worth $57,965,000 after acquiring an additional 672,118 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Mirum Pharmaceuticals by 709.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock worth $44,889,000 after acquiring an additional 536,674 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Mirum Pharmaceuticals by 6.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 577,274 shares of the company’s stock worth $45,599,000 after acquiring an additional 35,997 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Eric Bjerkholt sold 7,287 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the transaction, the chief financial officer owned 49,788 shares in the company, valued at approximately $4,579,500.24. This represents a 12.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jolanda Howe sold 4,732 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $435,249.36. Following the completion of the transaction, the senior vice president owned 8,429 shares in the company, valued at $775,299.42. This represents a 35.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,806 shares of company stock worth $10,408,916 over the last ninety days. 8.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Leerink Partners dropped their target price on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Morgan Stanley boosted their target price on Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. TD Cowen boosted their target price on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Raymond James Financial restated a “strong-buy” rating and set a $165.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, HC Wainwright set a $185.00 target price on Mirum Pharmaceuticals in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.64.

Mirum Pharmaceuticals Price Performance

MIRM stock opened at $95.48 on Wednesday. The firm has a market capitalization of $5.82 billion, a PE ratio of -7.02 and a beta of 0.50. Mirum Pharmaceuticals, Inc. has a one year low of $47.15 and a one year high of $114.99. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average of $97.53 and a two-hundred day moving average of $90.70.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). The business had revenue of $159.88 million during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. Mirum Pharmaceuticals’s revenue for the quarter was up 43.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. On average, analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

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.