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

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) traded down 4.6% on Monday following insider selling activity. 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 business’s stock in a transaction 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 transaction, the senior vice president now owns 2,426 shares in the company, valued at $114,264.60. The trade was a 50.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Leerink Partners boosted their price objective on Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. HC Wainwright restated a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Citigroup raised their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird lifted their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a research note 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 company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $57.73.

Mirum Pharmaceuticals Price Performance

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

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

Institutional Trading of Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 buying an additional 318 shares in the last quarter. Amalgamated Bank raised its position 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 in the last quarter. Arizona State Retirement System raised its position in Mirum Pharmaceuticals by 10.6% in the second quarter. Arizona State Retirement System now owns 9,210 shares of the company’s stock worth $315,000 after purchasing an additional 883 shares in the last quarter. Quest Partners LLC lifted 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 worth $39,000 after purchasing an additional 1,127 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of 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 purchasing an additional 1,825 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.