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

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) were down 4.6% during mid-day trading on Monday following insider selling activity. The company traded as low as $41.93 and last traded at $42.47. Approximately 48,697 shares were traded 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 shares were 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 in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

MIRM has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Cantor Fitzgerald upped their price target on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citigroup boosted their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Leerink Partners raised their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has an average rating of “Buy” and an average target price of $57.73.

Mirum Pharmaceuticals Stock Performance

The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $2.02 billion, a P/E ratio of -20.84 and a beta of 1.16. The company’s 50 day moving average is $40.14 and its 200-day moving average is $36.37.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. The company 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%. Mirum Pharmaceuticals’s revenue was up 89.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.57) earnings per share. Equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quest Partners LLC grew its stake in Mirum Pharmaceuticals by 7,513.3% during the second quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock valued at $39,000 after acquiring an additional 1,127 shares in the last quarter. Amalgamated Bank lifted its stake in Mirum Pharmaceuticals by 60.8% in the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mirum Pharmaceuticals by 22.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after purchasing an additional 318 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Mirum Pharmaceuticals during the third quarter valued at approximately $215,000. Finally, ProShare Advisors LLC bought a new stake in Mirum Pharmaceuticals during the 2nd quarter valued at $213,000.

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.