Mirum Pharmaceuticals (NASDAQ:MIRM) Sets New 52-Week High - Here's What Happened

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $53.53 and last traded at $53.24, with a volume of 182269 shares changing hands. The stock had previously closed at $52.70.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Robert W. Baird upped their target price on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. HC Wainwright reissued a "buy" rating and issued a $66.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Citigroup raised their target price on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $57.10.

Mirum Pharmaceuticals Stock Down 1.2 %

The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The firm's 50-day moving average is $46.21 and its 200 day moving average is $43.07. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -25.99 and a beta of 0.96.

Insider Transactions at Mirum Pharmaceuticals

In other news, SVP Jolanda Howe sold 1,064 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $48.22, for a total value of $51,306.08. Following the transaction, the senior vice president now directly owns 4,232 shares of the company's stock, valued at $204,067.04. The trade was a 20.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher Peetz sold 9,102 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $48.22, for a total value of $438,898.44. Following the completion of the transaction, the chief executive officer now directly owns 115,920 shares in the company, valued at $5,589,662.40. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,915 shares of company stock worth $1,897,920 in the last ninety days. Insiders own 22.87% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its stake in shares of Mirum Pharmaceuticals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company's stock valued at $30,000 after acquiring an additional 357 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Mirum Pharmaceuticals in the 4th quarter valued at $35,000. GF Fund Management CO. LTD. purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. raised its position in Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company's stock valued at $67,000 after purchasing an additional 318 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth about $69,000.

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.