Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Down 4.6% Following Insider Selling

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares were down 4.6% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $41.93 and last traded at $42.47. Approximately 48,697 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 557,412 shares. The stock had previously closed at $44.50.

Specifically, SVP Jolanda Howe sold 2,500 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $47.10, for a total value of $117,750.00. Following the sale, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at $114,264.60. The trade was a 50.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Robert W. Baird boosted their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. 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 research report on Wednesday, November 13th. Evercore ISI raised their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald increased their price target on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $57.73.

Mirum Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The company has a fifty day moving average price of $40.14 and a 200 day moving average price of $36.37. The company has a market capitalization of $2.02 billion, a P/E ratio of -20.84 and a beta of 1.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. During the same quarter in the prior year, the firm posted ($0.57) earnings per share. The company’s revenue was up 89.4% on a year-over-year basis. On average, sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.51 EPS for the current fiscal year.

Institutional Trading of Mirum Pharmaceuticals

Several large investors have recently made changes to their positions in MIRM. Russell Investments Group Ltd. raised its holdings in Mirum Pharmaceuticals by 11.7% in the 1st quarter. Russell Investments Group Ltd. now owns 17,481 shares of the company’s stock valued at $439,000 after acquiring an additional 1,825 shares in the last quarter. Affinity Asset Advisors LLC grew its position in shares of Mirum Pharmaceuticals by 220.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 160,000 shares of the company’s stock worth $4,019,000 after buying an additional 110,000 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Mirum Pharmaceuticals by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock worth $40,131,000 after purchasing an additional 432,824 shares during the period. Silvercrest Asset Management Group LLC increased its stake in shares of Mirum Pharmaceuticals by 64.6% in the 1st 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. Finally, Janus Henderson Group PLC boosted its position 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 in the last quarter.

About Mirum Pharmaceuticals

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.