Mirum Pharmaceuticals (NASDAQ:MIRM) Sees Significant Increase in Short Interest

Mirum Pharmaceuticals (NASDAQ:MIRM) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 62,800 shares, an increase of 65.3% from the September 15th total of 38,000 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 44,200 shares, the days-to-cover ratio is presently 1.4 days.

In other news, Director Laurent Fischer purchased 4,650 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $10.60 per share, for a total transaction of $49,290.00. Also, CEO Christopher Peetz acquired 9,070 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $11.02 per share, with a total value of $99,951.40. In the last quarter, insiders have acquired 21,432 shares of company stock worth $232,684.

Several equities analysts have recently issued reports on MIRM shares. Evercore ISI started coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued an “outperform” rating and a $25.00 price objective for the company. Guggenheim started coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued a “buy” rating and a $18.00 price objective for the company. Roth Capital started coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued a “buy” rating and a $33.00 price objective for the company. Raymond James started coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Citigroup started coverage on Mirum Pharmaceuticals in a report on Monday, August 12th. They issued a “buy” rating and a $21.00 price objective for the company. Five analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $25.00.

Shares of MIRM stock traded down $0.04 on Monday, hitting $7.49. The company had a trading volume of 54,800 shares, compared to its average volume of 48,103. The company’s 50-day simple moving average is $9.21. Mirum Pharmaceuticals has a twelve month low of $7.33 and a twelve month high of $15.50.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($1.83). As a group, research analysts expect that Mirum Pharmaceuticals will post -3.3 EPS for the current year.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a clinical-stage therapeutics company, develops and produces therapies for patients with cholestatic liver diseases with a focus on rare pediatric conditions. The company's lead product candidate is maralixibat, a Phase 3-ready investigational oral drug with indications, including Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).

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