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

Principal Financial Group Inc. cut its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 28.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Comerica Bank increased its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Mirum Pharmaceuticals by 307.3% during the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock worth $2,211,000 after buying an additional 37,028 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mirum Pharmaceuticals by 7.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock valued at $1,176,000 after buying an additional 1,720 shares during the period. Caxton Associates LLP acquired a new position in Mirum Pharmaceuticals in the first quarter valued at approximately $217,000. Finally, Empowered Funds LLC grew its position in Mirum Pharmaceuticals by 15.4% in the first quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock worth $1,729,000 after acquiring an additional 5,120 shares during the period.

Insider Transactions at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 1,421 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $93.33, for a total transaction of $132,621.93. Following the completion of the transaction, the chief financial officer directly owned 42,127 shares of the company’s stock, valued at approximately $3,931,712.91. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Peter Radovich sold 3,143 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $96.19, for a total transaction 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,136 shares of company stock valued at $4,352,029 in the last 90 days. Insiders own 22.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Citizens Jmp upped their price target on Mirum Pharmaceuticals from $95.00 to $140.00 and gave the company a “market outperform” rating in a research note on Friday, December 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price objective on shares of Mirum Pharmaceuticals in a report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, January 22nd. TD Cowen reiterated a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday, January 12th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $110.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.17.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock opened at $102.83 on Wednesday. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06. Mirum Pharmaceuticals, Inc. has a 52-week low of $36.88 and a 52-week high of $105.74. The firm has a market cap of $5.28 billion, a PE ratio of -119.57 and a beta of 0.49. The company’s 50 day moving average is $87.83 and its two-hundred day moving average is $76.82.

Mirum Pharmaceuticals Company 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.