Clearbridge Investments LLC Raises Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Posted by Defense World Staff on May 29th, 2023

Clearbridge Investments LLC increased its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM – Get Rating) by 50.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,155 shares of the company’s stock after purchasing an additional 10,470 shares during the quarter. Clearbridge Investments LLC owned approximately 0.08% of Mirum Pharmaceuticals worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. boosted its holdings in shares of Mirum Pharmaceuticals by 179.1% during the fourth quarter. Endurance Wealth Management Inc. now owns 1,954 shares of the company’s stock worth $38,000 after purchasing an additional 1,254 shares during the last quarter. Sandia Investment Management LP purchased a new stake in Mirum Pharmaceuticals in the 3rd quarter valued at about $46,000. Legal & General Group Plc increased its stake in shares of Mirum Pharmaceuticals by 2,193.7% during the 2nd quarter. Legal & General Group Plc now owns 6,583 shares of the company’s stock valued at $128,000 after acquiring an additional 6,296 shares during the last quarter. American International Group Inc. increased its stake in shares of Mirum Pharmaceuticals by 315.7% during the 2nd quarter. American International Group Inc. now owns 7,436 shares of the company’s stock valued at $145,000 after acquiring an additional 5,647 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Mirum Pharmaceuticals by 334.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,725 shares of the company’s stock worth $151,000 after acquiring an additional 5,945 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MIRM shares. HC Wainwright reaffirmed a “buy” rating and set a $61.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, April 6th. Raymond James dropped their price objective on Mirum Pharmaceuticals from $83.00 to $81.00 and set a “strong-buy” rating for the company in a report on Thursday, April 13th.

Insiders Place Their Bets

In other news, Director Michael G. Grey sold 14,608 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $28.00, for a total value of $409,024.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.27% of the stock is currently owned by insiders.

Mirum Pharmaceuticals Stock Performance

NASDAQ MIRM opened at $26.13 on Monday. Mirum Pharmaceuticals, Inc. has a one year low of $17.32 and a one year high of $30.55. The company’s 50 day moving average price is $25.54 and its 200 day moving average price is $22.68.

Mirum Pharmaceuticals (NASDAQ:MIRM – Get Rating) last posted its earnings results on Wednesday, March 8th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Mirum Pharmaceuticals had a negative net margin of 134.90% and a negative return on equity of 91.76%. The business had revenue of $27.91 million for the quarter, compared to analyst estimates of $24.99 million. Equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.97 earnings per share for the current year.

Mirum Pharmaceuticals Profile

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Mirum Pharmaceuticals, Inc is a biopharmaceutical company. The firm focuses on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. Its products include Maralixibat and Volixibat. The company was founded by Niall O’Donnel, Michael Grey and Christopher Peetz in May 2018 and is headquartered in Foster City, CA.