Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 46.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,375 shares of the company’s stock after acquiring an additional 21,526 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Mirum Pharmaceuticals were worth $2,628,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Mirum Pharmaceuticals by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock valued at $439,000 after purchasing an additional 1,825 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Mirum Pharmaceuticals by 37.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after acquiring an additional 432,824 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of Mirum Pharmaceuticals by 64.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock valued at $4,090,000 after acquiring an additional 63,871 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Mirum Pharmaceuticals by 34.2% during the first quarter. Janus Henderson Group PLC now owns 2,767,210 shares of the company’s stock worth $69,470,000 after purchasing an additional 704,659 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Mirum Pharmaceuticals by 10.5% in the second quarter. Raymond James & Associates now owns 144,214 shares of the company’s stock worth $4,931,000 after purchasing an additional 13,651 shares during the last quarter.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock opened at $44.73 on Monday. Mirum Pharmaceuticals, Inc. has a twelve month low of $23.14 and a twelve month high of $48.89. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $2.15 billion, a P/E ratio of -22.14 and a beta of 1.16. The stock’s 50 day moving average is $40.29 and its 200 day moving average is $36.76.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. The firm had revenue of $90.38 million for the quarter, compared to analysts’ expectations of $81.99 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The company’s quarterly revenue was up 89.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.57) earnings per share. On average, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total transaction of $117,750.00. Following the sale, the senior vice president now directly owns 2,426 shares in the company, valued at approximately $114,264.60. This trade represents a 50.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MIRM. Leerink Partners increased their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Citigroup lifted their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI upped their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Finally, Robert W. Baird increased their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $57.73.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.