Insider Selling: Mirum Pharmaceuticals (NASDAQ:MIRM) CEO Sells $2,960,400.00 in Stock

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) CEO Christopher Peetz sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the completion of the transaction, the chief executive officer owned 194,440 shares in the company, valued at $19,187,339.20. The trade was a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Peetz also recently made the following trade(s):

• On Monday, August 10th, Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $98.92, for a total transaction of $1,978,400.00.
• On Monday, July 6th, Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $122.27, for a total transaction of $2,445,400.00.

Mirum Pharmaceuticals Trading Up 0.8%

MIRM traded up $0.80 during trading hours on Thursday, reaching $100.63. The company’s stock had a trading volume of 453,033 shares, compared to its average volume of 857,573. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The stock has a market cap of $6.53 billion, a PE ratio of -6.92 and a beta of 0.49. The business’s 50-day moving average is $109.88 and its 200-day moving average is $101.75. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The business had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. During the same period last year, the business earned ($0.12) EPS. Mirum Pharmaceuticals’s revenue was up 37.9% compared to the same quarter last year. As a group, equities research analysts predict that Mirum Pharmaceuticals, Inc. will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in MIRM. Comerica Bank grew its holdings in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares in the last quarter. AQR Capital Management LLC lifted its holdings in 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. boosted 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 worth $1,176,000 after acquiring an additional 1,720 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Mirum Pharmaceuticals during the 1st quarter worth about $217,000. Finally, Empowered Funds LLC increased its holdings in shares of Mirum Pharmaceuticals by 15.4% in the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock valued at $1,729,000 after acquiring an additional 5,120 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MIRM. HC Wainwright cut their price objective on Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Weiss Ratings raised shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. UBS Group set a $137.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Finally, Royal Bank Of Canada decreased their price objective on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.31.

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.