Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Connor Clark & Lunn Investment Management Ltd. boosted its position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 495,976 shares of the company’s stock after purchasing an additional 72,232 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Mirum Pharmaceuticals were worth $36,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eventide Asset Management LLC grew its holdings in shares of Mirum Pharmaceuticals by 4.4% during the second quarter. Eventide Asset Management LLC now owns 2,637,485 shares of the company’s stock worth $134,224,000 after buying an additional 110,485 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Mirum Pharmaceuticals by 6.8% in the second quarter. Geode Capital Management LLC now owns 1,029,616 shares of the company’s stock worth $52,405,000 after buying an additional 65,951 shares in the last quarter. Boone Capital Management LLC lifted its stake in shares of Mirum Pharmaceuticals by 6.3% in the second quarter. Boone Capital Management LLC now owns 641,448 shares of the company’s stock worth $32,643,000 after buying an additional 38,130 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Mirum Pharmaceuticals by 101.1% during the second quarter. Bank of New York Mellon Corp now owns 496,061 shares of the company’s stock worth $25,245,000 after acquiring an additional 249,331 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Mirum Pharmaceuticals by 66.8% during the second quarter. JPMorgan Chase & Co. now owns 480,276 shares of the company’s stock worth $24,441,000 after acquiring an additional 192,340 shares during the last quarter.

Analysts Set New Price Targets

MIRM has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Leerink Partners lowered their target price on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Wall Street Zen lowered Mirum Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 28th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $110.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, December 11th. Finally, Citizens Jmp reduced their price objective on Mirum Pharmaceuticals from $140.00 to $132.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 26th. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.00.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 3,143 shares of Mirum Pharmaceuticals stock in a transaction on Monday, January 26th. The stock was sold at an average price of $96.19, for a total value of $302,325.17. Following the sale, the chief operating officer owned 23,286 shares in the company, valued at $2,239,880.34. The trade was a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick J. Heron bought 131,425 shares of Mirum Pharmaceuticals stock in a transaction on Friday, January 23rd. The stock was acquired at an average price of $68.48 per share, for a total transaction of $8,999,984.00. Following the transaction, the director directly owned 459,010 shares of the company’s stock, valued at approximately $31,433,004.80. This trade represents a 40.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 45,136 shares of company stock valued at $4,352,029 in the last ninety days. 14.36% of the stock is currently owned by corporate insiders.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $89.78 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.67 and a quick ratio of 2.55. The company has a market capitalization of $5.42 billion, a PE ratio of -187.04 and a beta of 0.52. The firm’s 50-day moving average is $95.13 and its two-hundred day moving average is $80.50. Mirum Pharmaceuticals, Inc. has a 12 month low of $36.88 and a 12 month high of $109.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.13). The firm had revenue of $148.93 million during the quarter, compared to analysts’ expectations of $141.78 million. Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The business’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the company earned $1.00 EPS. Analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 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.