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 Mirum Pharmaceuticals stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the transaction, the chief executive officer directly owned 206,637 shares in the company, 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 is available 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 stock was 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 Price Performance

NASDAQ MIRM traded up $9.94 on Wednesday, reaching $96.97. The company had a trading volume of 1,153,638 shares, compared to its average volume of 685,065. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. The company’s fifty day moving average is $89.51 and its 200 day moving average is $98.44. Mirum Pharmaceuticals, Inc. has a 52-week low of $63.23 and a 52-week high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data 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 65.71% and a negative net margin of 134.75%. The firm had revenue of $185.72 million for the quarter, compared to analysts’ expectations of $178.07 million. During the same period in the prior year, the firm earned $0.05 earnings per share. Mirum Pharmaceuticals’s revenue was up 39.6% compared to the same quarter last year. On average, sell-side analysts predict that Mirum Pharmaceuticals, Inc. will post -1.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MIRM. TD Cowen lifted their target price on shares of Mirum Pharmaceuticals from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. UBS Group set a $137.00 target price on Mirum Pharmaceuticals in a research note on Thursday, August 27th. Citigroup upped their target price on Mirum Pharmaceuticals from $160.00 to $184.00 and gave the company a “buy” rating in a report on Monday, October 12th. Stifel Nicolaus increased their price target on Mirum Pharmaceuticals from $136.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Finally, HC Wainwright lifted their price target on Mirum Pharmaceuticals from $200.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $153.56.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Jupiter Topco LLC purchased a new position in shares of Mirum Pharmaceuticals in the second quarter worth about $691,672,000. BlackRock Inc. purchased a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at approximately $513,945,000. William Blair Investment Management LLC purchased a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at approximately $164,453,000. Janus Henderson Group PLC lifted its stake in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company’s stock valued at $641,764,000 after buying an additional 880,505 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Mirum Pharmaceuticals in the 2nd quarter worth approximately $78,434,000.

Mirum Pharmaceuticals News Summary

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

• Positive Sentiment: Several firms raised their price targets: Citizens JMP to $167 from $144, HC Wainwright to $202 from $200, and Cantor Fitzgerald to $160 from $155. RBC reaffirmed its “outperform” rating and $155 target. The favorable analyst outlook is a likely driver of the stock’s strength. Citizens JMP recommendations HC Wainwright recommendations Cantor Fitzgerald recommendations RBC rating report
• Positive Sentiment: Third-quarter revenue rose 39.6% year over year to $185.72 million, exceeding analyst expectations of about $178 million. Mirum Q3 results and business update
• Positive Sentiment: Mirum also announced new data across its rare liver disease portfolio for presentation at AASLD’s The Liver Meeting, a potential source of investor interest in its pipeline. AASLD portfolio data announcement
• Negative Sentiment: The company reported a Q3 loss of $0.87 per share, wider than the roughly $0.49–$0.53 loss analysts expected, and below the $0.05 per-share profit a year earlier. This earnings miss tempers the positive revenue and analyst news. Q3 earnings report

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.