Principal Financial Group Inc. Decreases Stock Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Principal Financial Group Inc. lowered its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 28.6% in the third quarter, HoldingsChannel.com reports. The firm owned 22,440 shares of the company’s stock after selling 8,980 shares during the quarter. Principal Financial Group Inc.’s holdings in Mirum Pharmaceuticals were worth $1,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MIRM. Comerica Bank lifted its holdings in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after buying an additional 278 shares during the last quarter. CWM LLC lifted its stake in Mirum Pharmaceuticals by 30.8% during the third quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after purchasing an additional 161 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Mirum Pharmaceuticals by 46.5% during the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock worth $56,000 after purchasing an additional 351 shares during the last quarter. Hollencrest Capital Management acquired a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $138,000. Finally, Longboard Asset Management LP purchased a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $214,000.

Mirum Pharmaceuticals Trading Down 0.3%

NASDAQ:MIRM opened at $102.83 on Wednesday. Mirum Pharmaceuticals, Inc. has a 12-month low of $36.88 and a 12-month high of $105.74. The company has a current ratio of 3.31, a quick ratio of 3.16 and a debt-to-equity ratio of 1.06. The stock’s 50 day simple moving average is $87.83 and its 200-day simple moving average is $76.82. The firm has a market cap of $5.28 billion, a P/E ratio of -119.57 and a beta of 0.49.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 9,108 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $103.30, for a total transaction of $940,856.40. Following the completion of the transaction, the chief executive officer directly owned 160,294 shares of the company’s stock, valued at $16,558,370.20. This represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Peter Radovich sold 3,143 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $96.19, for a total transaction of $302,325.17. Following the completion of the sale, the chief operating officer owned 23,286 shares of the company’s stock, valued at approximately $2,239,880.34. The trade was a 11.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,136 shares of company stock worth $4,352,029 in the last ninety days. Insiders own 22.87% of the company’s stock.

Analysts Set New Price Targets

MIRM has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Morgan Stanley boosted their price target on shares of Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. HC Wainwright upped their price objective on shares of Mirum Pharmaceuticals from $102.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Royal Bank Of Canada set a $130.00 target price on Mirum Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Evercore reissued an “outperform” rating and issued a $101.00 target price on shares of Mirum Pharmaceuticals in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.17.

Mirum Pharmaceuticals Profile

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.