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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares gapped up before the market opened on Thursday following insider buying activity. 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.

Specifically, CEO Christopher Peetz sold 5,209 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 110,125 shares of the company’s stock, valued at $3,086,803.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 5,209 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 110,125 shares of the company’s stock, valued at $3,086,803.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lara Longpre sold 1,019 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $28.04, for a total value of $28,572.76. Following the completion of the sale, the insider now directly owns 105,254 shares in the company, valued at approximately $2,951,322.16. The disclosure for this sale can be found here. Insiders have sold 13,202 shares of company stock valued at $359,119 over the last quarter. Company insiders own 24.06% of the company’s stock.

Analyst Ratings Changes

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

Mirum Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.19 and a current ratio of 4.45. The stock has a 50 day moving average price of $27.46 and a 200 day moving average price of $29.20. The company has a market cap of $1.18 billion, a P/E ratio of -6.34 and a beta of 1.16.

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

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds have recently modified their holdings of MIRM. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Mirum Pharmaceuticals by 111.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,949 shares of the company’s stock valued at $6,257,000 after buying an additional 111,949 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Mirum Pharmaceuticals by 46.2% during the fourth quarter. Vanguard Group Inc. now owns 2,476,244 shares of the company’s stock valued at $73,099,000 after buying an additional 782,901 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Mirum Pharmaceuticals by 89.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 456,318 shares of the company’s stock valued at $13,471,000 after buying an additional 215,542 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Mirum Pharmaceuticals by 3,544.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,164,682 shares of the company’s stock valued at $34,383,000 after buying an additional 1,132,723 shares in the last quarter. Finally, Blue Owl Capital Holdings LP grew its holdings in shares of Mirum Pharmaceuticals by 109.3% during the fourth quarter. Blue Owl Capital Holdings LP now owns 10,013 shares of the company’s stock valued at $296,000 after buying an additional 5,229 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.