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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price 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 stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $28.03, for a total value of $146,008.27. Following the transaction, the chief executive officer now owns 110,125 shares in the company, valued at $3,086,803.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Eric Bjerkholt bought 2,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Wednesday, March 27th. The stock was purchased at an average cost of $24.80 per share, for a total transaction of $49,600.00. Following the acquisition, the chief financial officer now owns 14,000 shares in the company, valued at $347,200. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher Peetz sold 5,209 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $28.03, for a total transaction of $146,008.27. Following the completion of the transaction, the chief executive officer now directly owns 110,125 shares in the company, valued at approximately $3,086,803.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,202 shares of company stock valued at $359,119. Insiders own 24.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

Mirum Pharmaceuticals Price Performance

The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -6.33 and a beta of 1.16. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.45 and a quick ratio of 4.19. The stock’s 50 day simple moving average is $27.49 and its two-hundred day simple moving average is $29.23.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, February 28th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.32). The business had revenue of $69.55 million for the quarter, compared to analyst estimates of $66.73 million. Mirum Pharmaceuticals had a negative net margin of 86.33% and a negative return on equity of 66.24%. On average, analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.12 earnings per share for the current fiscal year.

Institutional Trading of Mirum Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Silverarc Capital Management LLC grew its holdings in Mirum Pharmaceuticals by 0.4% during the 2nd quarter. Silverarc Capital Management LLC now owns 106,375 shares of the company’s stock worth $2,752,000 after acquiring an additional 436 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Mirum Pharmaceuticals by 98.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 986 shares of the company’s stock worth $31,000 after buying an additional 488 shares during the period. Los Angeles Capital Management LLC raised its holdings in Mirum Pharmaceuticals by 1.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 42,444 shares of the company’s stock worth $1,341,000 after buying an additional 494 shares during the period. Royal Bank of Canada raised its holdings in 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 buying an additional 530 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mirum Pharmaceuticals by 4.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,037 shares of the company’s stock worth $358,000 after acquiring an additional 654 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.