Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Down 4.6% After Insider Selling

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report)'s share price traded down 4.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $41.93 and last traded at $42.47. 48,697 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 557,412 shares. The stock had previously closed at $44.50.

Specifically, SVP Jolanda Howe sold 2,500 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the sale, the senior vice president now directly owns 2,426 shares of the company's stock, valued at $114,264.60. This trade represents a 50.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup increased their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. HC Wainwright reissued a "buy" rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Evercore ISI boosted their target price on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Cantor Fitzgerald raised their price target on shares of Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. Finally, Leerink Partners boosted their price objective on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $57.73.

Mirum Pharmaceuticals Price Performance

The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -22.03 and a beta of 1.16. The business's 50-day moving average price is $40.12 and its two-hundred day moving average price is $36.15. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.09.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $90.38 million during the quarter, compared to the consensus estimate of $81.99 million. During the same period last year, the firm earned ($0.57) earnings per share. The company's revenue for the quarter was up 89.4% compared to the same quarter last year. On average, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Mirum Pharmaceuticals by 3.2% during the third quarter. Geode Capital Management LLC now owns 936,197 shares of the company's stock worth $36,519,000 after purchasing an additional 29,017 shares during the period. Frazier Life Sciences Management L.P. raised its stake in Mirum Pharmaceuticals by 1.2% during the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company's stock worth $256,245,000 after acquiring an additional 75,000 shares during the period. Barclays PLC lifted its holdings in Mirum Pharmaceuticals by 4.6% in the third quarter. Barclays PLC now owns 245,918 shares of the company's stock worth $9,592,000 after acquiring an additional 10,824 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter worth approximately $215,000. Finally, Wellington Management Group LLP boosted its position in Mirum Pharmaceuticals by 62.2% during the 3rd quarter. Wellington Management Group LLP now owns 122,334 shares of the company's stock valued at $4,771,000 after purchasing an additional 46,918 shares during the period.

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.