Christopher Peetz Sells 40,000 Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stock

Key Points

• Mirum Pharmaceuticals CEO Christopher Peetz sold 40,000 shares at an average price of $62.00, totaling $2.48 million, resulting in a 22.39% decrease in his stock ownership.
• The company reported $127.79 million in revenue for the last quarter, which surpasses analyst estimates of $107.91 million, alongside an earnings per share of ($0.12).
• Several brokerages have set new price targets for Mirum Pharmaceuticals, with JMP Securities setting a target of $81.00 and Stifel Nicolaus at $89.00, indicating a positive outlook for the stock.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $62.00, for a total value of $2,480,000.00. Following the sale, the chief executive officer owned 138,641 shares of the company's stock, valued at approximately $8,595,742. This represents a 22.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Christopher Peetz also recently made the following trade(s):

• On Thursday, August 7th, Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $55.25, for a total value of $2,210,000.00.

Mirum Pharmaceuticals Stock Up 4.8%

Shares of MIRM stock traded up $3.10 on Friday, reaching $67.93. 1,026,483 shares of the company were exchanged, compared to its average volume of 633,666. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -56.14 and a beta of 0.94. The company has a 50-day moving average of $52.89 and a 200-day moving average of $47.79. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. Mirum Pharmaceuticals, Inc. has a one year low of $36.86 and a one year high of $69.00.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.19. The company had revenue of $127.79 million for the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The business's revenue was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.52) EPS. Analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc raised its holdings in shares of Mirum Pharmaceuticals by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 43,010 shares of the company's stock worth $2,189,000 after purchasing an additional 176 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Mirum Pharmaceuticals by 2.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,903 shares of the company's stock worth $504,000 after purchasing an additional 215 shares during the period. Palumbo Wealth Management LLC raised its holdings in shares of Mirum Pharmaceuticals by 4.2% in the 2nd quarter. Palumbo Wealth Management LLC now owns 5,604 shares of the company's stock worth $285,000 after purchasing an additional 228 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Mirum Pharmaceuticals by 14.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,914 shares of the company's stock worth $97,000 after purchasing an additional 248 shares during the period. Finally, Comerica Bank grew its stake in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after buying an additional 278 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on MIRM. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Evercore ISI raised their price target on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. HC Wainwright upped their target price on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Stifel Nicolaus set a $89.00 target price on Mirum Pharmaceuticals and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, JMP Securities set a $81.00 price objective on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a report on Thursday, August 7th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $74.13.

Mirum Pharmaceuticals Company Profile

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.