Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Up Following Insider Buying Activity

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $25.12, but opened at $25.66. Mirum Pharmaceuticals shares last traded at $25.42, with a volume of 25,121 shares traded.

Specifically, CEO Christopher Peetz sold 5,209 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $28.03, for a total value of $146,008.27. Following the completion of the transaction, the chief executive officer now owns 110,125 shares of the company’s stock, valued at approximately $3,086,803.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Lara Longpre sold 1,019 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $28.04, for a total value of $28,572.76. Following the completion of the transaction, the insider now owns 105,254 shares in the company, valued at approximately $2,951,322.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher Peetz sold 5,209 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $28.03, for a total value of $146,008.27. Following the completion of the transaction, the chief executive officer now owns 110,125 shares of the company’s stock, valued at approximately $3,086,803.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,202 shares of company stock valued at $359,119. 24.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MIRM has been the subject of several research reports. SVB Leerink cut their price objective on Mirum Pharmaceuticals from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. HC Wainwright boosted their price objective on Mirum Pharmaceuticals from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price objective on shares of Mirum Pharmaceuticals in a research note on Thursday, February 29th. Raymond James cut their price objective on Mirum Pharmaceuticals from $78.00 to $64.00 and set a “strong-buy” rating for the company in a research note on Tuesday, December 19th. Finally, JMP Securities boosted their price objective on Mirum Pharmaceuticals from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $52.11.

Mirum Pharmaceuticals Stock Up 0.5 %

The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -6.33 and a beta of 1.16. The business has a fifty day moving average of $27.49 and a 200 day moving average of $29.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.45 and a quick ratio of 4.19.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 66.24% and a negative net margin of 86.33%. The firm had revenue of $69.55 million for the quarter, compared to analyst estimates of $66.73 million. As a group, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -1.12 earnings per share for the current year.

Institutional Trading of Mirum Pharmaceuticals

Several hedge funds have recently modified their holdings of MIRM. China Universal Asset Management Co. Ltd. raised its stake in Mirum Pharmaceuticals by 98.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 986 shares of the company’s stock valued at $31,000 after buying an additional 488 shares in the last quarter. AJOVista LLC purchased a new stake in Mirum Pharmaceuticals in the 4th quarter valued at approximately $40,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Mirum Pharmaceuticals during the 4th quarter worth approximately $41,000. Royal Bank of Canada boosted its stake in shares of Mirum Pharmaceuticals by 40.1% during the 2nd quarter. Royal Bank of Canada now owns 1,851 shares of the company’s stock worth $48,000 after acquiring an additional 530 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Mirum Pharmaceuticals by 186.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,846 shares of the company’s stock worth $48,000 after purchasing an additional 1,202 shares during 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.