Insider Selling: Mirum Pharmaceuticals (NASDAQ:MIRM) CFO Sells 6,001 Shares of Stock

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) CFO Eric Bjerkholt sold 6,001 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares in the company, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Bjerkholt also recently made the following trade(s):

• On Monday, July 6th, Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $122.25, for a total value of $611,250.00.
• On Monday, June 8th, Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $93.82, for a total value of $469,100.00.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ:MIRM traded up $0.74 during trading on Wednesday, hitting $98.97. 649,561 shares of the company’s stock were exchanged, compared to its average volume of 896,204. The business’s 50-day simple moving average is $110.50 and its 200 day simple moving average is $101.94. The company has a market cap of $6.43 billion, a price-to-earnings ratio of -6.80 and a beta of 0.52. Mirum Pharmaceuticals, Inc. has a 52-week low of $63.23 and a 52-week high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The business had revenue of $176.24 million during the quarter, compared to analysts’ expectations of $166.33 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. As a group, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -1.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals in the 2nd quarter worth about $44,000. William Blair Investment Management LLC purchased a new position in shares of Mirum Pharmaceuticals during the 2nd quarter worth about $164,453,000. Allworth Financial LP bought a new position in Mirum Pharmaceuticals during the 2nd quarter valued at about $81,000. Virtus Advisers LLC bought a new position in Mirum Pharmaceuticals during the 2nd quarter valued at about $480,000. Finally, Reliant Investment Partners LLC purchased a new stake in Mirum Pharmaceuticals in the 2nd quarter worth about $699,000.

Wall Street Analysts Forecast Growth

MIRM has been the subject of a number of research reports. CLSA set a $146.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. JPMorgan Chase & Co. lifted their price target on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Evercore reiterated an “outperform” rating and issued a $138.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Wolfe Research assumed coverage on shares of Mirum Pharmaceuticals in a report on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price objective for the company. Finally, TD Cowen cut their price objective on Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.33.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.