Mirum Pharmaceuticals (NASDAQ:MIRM) Stock: Insider Christopher Peetz Sells 20,000 Shares

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the chief executive officer directly owned 206,637 shares of the company’s stock, valued at approximately $18,597,330. The trade was a 8.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Peetz also recently made the following trade(s):

• On Tuesday, September 1st, Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $98.68, for a total value of $2,960,400.00.
• On Monday, August 10th, Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $98.92, for a total value of $1,978,400.00.

Mirum Pharmaceuticals Trading Down 3.5%

Shares of NASDAQ MIRM opened at $93.54 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.07. The business’s 50 day moving average price is $89.41 and its 200-day moving average price is $98.46. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -6.05 and a beta of 0.75.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative return on equity of 97.25% and a negative net margin of 134.75%. The business had revenue of $185.72 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the prior year, the business posted $0.05 earnings per share. Mirum Pharmaceuticals’s revenue was up 39.6% on a year-over-year basis. On average, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.32 earnings per share for the current year.

Mirum Pharmaceuticals News Summary

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Q3 revenue grew 39.6% year over year to $185.72 million, topping analyst expectations of approximately $178 million. Mirum Q3 results
• Positive Sentiment: Several firms raised their targets after the earnings update: Citizens JMP to $167, HC Wainwright to $202, and Cantor Fitzgerald to $160. RBC maintained its “outperform” rating and $155 target, while Leerink still rates the shares “outperform” despite lowering its target to $140. Citizens JMP analyst rating RBC analyst rating
• Neutral Sentiment: CEO Christopher Peetz sold 20,000 shares for $1.8 million under a pre-arranged Rule 10b5-1 plan. He retained 206,637 shares after the sale, which may temper—but does not eliminate—concerns about insider selling. CEO share sale
• Negative Sentiment: Mirum reported a Q3 loss of $0.87 per share, wider than the expected $0.49 loss and a reversal from a $0.05 profit a year earlier. The earnings miss may be weighing on sentiment despite the revenue beat. Q3 earnings flash
• Negative Sentiment: Leerink Partners cut its price target from $154 to $140. Although it kept an “outperform” rating, the reduction adds a cautious note amid the otherwise favorable analyst updates. Leerink Partners rating

Institutional Trading of Mirum Pharmaceuticals

A number of large investors have recently modified their holdings of MIRM. Jupiter Topco LLC bought a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter valued at about $691,672,000. Janus Henderson Group PLC lifted its position in shares of Mirum Pharmaceuticals by 14.5% in the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock worth $641,764,000 after purchasing an additional 880,505 shares during the period. BlackRock Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter worth approximately $513,945,000. ABS Investment Management LLC bought a new position in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $245,847,000. Finally, William Blair Investment Management LLC bought a new position in shares of Mirum Pharmaceuticals during the second quarter valued at approximately $164,453,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MIRM shares. Cantor Fitzgerald lifted their target price on Mirum Pharmaceuticals from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. Stifel Nicolaus upped their price target on shares of Mirum Pharmaceuticals from $136.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Leerink Partners reduced their price target on shares of Mirum Pharmaceuticals from $154.00 to $140.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Weiss Ratings downgraded shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $154.94.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.