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

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

Specifically, SVP Jolanda Howe sold 2,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the completion of the sale, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. This trade represents a 50.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Several analysts have weighed in on MIRM shares. Cantor Fitzgerald upped their price objective on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Evercore ISI boosted their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Leerink Partners lifted their price target on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Citigroup raised their price objective 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. Finally, Robert W. Baird upped their target price 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. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $57.73.

Mirum Pharmaceuticals Stock Down 6.9 %

The business’s fifty day simple moving average is $40.13 and its 200 day simple moving average is $36.26. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -20.50 and a beta of 1.16. The company has a current ratio of 3.34, a quick ratio of 3.09 and a debt-to-equity ratio of 1.33.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $81.99 million. During the same period in the previous year, the firm earned ($0.57) earnings per share. The firm’s quarterly revenue was up 89.4% compared to the same quarter last year. Equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.51 earnings per share for the current fiscal year.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds have recently modified their holdings of MIRM. Price T Rowe Associates Inc. MD raised its holdings in Mirum Pharmaceuticals by 37.2% in 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 holdings in shares of Mirum Pharmaceuticals by 64.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 162,817 shares of the company’s stock worth $4,090,000 after acquiring an additional 63,871 shares in the last quarter. Rice Hall James & Associates LLC raised its position in shares of Mirum Pharmaceuticals by 6.9% during the second quarter. Rice Hall James & Associates LLC now owns 229,730 shares of the company’s stock worth $7,854,000 after purchasing an additional 14,843 shares during the period. Candriam S.C.A. bought a new position in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $17,384,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Mirum Pharmaceuticals by 64.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 104,770 shares of the company’s stock valued at $3,582,000 after purchasing an additional 41,236 shares during the period.

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.