Insider Selling: Mirum Pharmaceuticals (NASDAQ:MIRM) CFO Sells 5,000 Shares of Stock

Key Points

• Mirum Pharmaceuticals CFO Eric Bjerkholt sold 5,000 shares on June 8 at an average price of $93.82, totaling about $469,100. The sale was made under a pre-arranged Rule 10b5-1 plan.
• After the transaction, Bjerkholt still owned 44,788 shares valued at roughly $4.2 million, and the sale reduced his position by about 10.04%. He had also sold 7,287 shares in March at an average price of $91.98.
• Mirum shares recently traded at $95.48, near their 50-day average and below the 52-week high of $114.99. Analysts remain broadly bullish, with a consensus rating of Moderate Buy and an average price target of $137.64.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) CFO Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $93.82, for a total value of $469,100.00. Following the sale, the chief financial officer directly owned 44,788 shares of the company's stock, valued at $4,202,010.16. This trade represents a 10.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Bjerkholt also recently made the following trade(s):

• On Monday, March 16th, Eric Bjerkholt sold 7,287 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $91.98, for a total value of $670,258.26.

Mirum Pharmaceuticals Stock Performance

Shares of Mirum Pharmaceuticals stock traded up $1.90 on Tuesday, reaching $95.48. 694,227 shares of the stock were exchanged, compared to its average volume of 1,053,051. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a twelve month low of $47.15 and a twelve month high of $114.99. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of -7.02 and a beta of 0.50. The business has a 50 day moving average price of $97.53 and a two-hundred day moving average price of $90.70.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($12.68). The company had revenue of $159.88 million for the quarter, compared to analysts' expectations of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The firm's revenue was up 43.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.30) earnings per share. Analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Institutional Trading of Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Faithward Advisors LLC increased its position in shares of Mirum Pharmaceuticals by 0.5% in the first quarter. Faithward Advisors LLC now owns 27,467 shares of the company's stock valued at $2,537,000 after buying an additional 126 shares in the last quarter. MCF Advisors LLC increased its position in shares of Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company's stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Mirum Pharmaceuticals by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company's stock worth $253,000 after purchasing an additional 200 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Mirum Pharmaceuticals by 34.0% during the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company's stock worth $70,000 after purchasing an additional 243 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Mirum Pharmaceuticals by 2.6% during the third quarter. Arizona State Retirement System now owns 10,984 shares of the company's stock worth $805,000 after purchasing an additional 275 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Robert W. Baird lifted their price target on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Evercore reiterated an "outperform" rating and set a $138.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Wolfe Research initiated coverage on Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They set an "outperform" rating and a $145.00 price target for the company. Raymond James Financial restated a "strong-buy" rating and issued a $165.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Leerink Partners cut their price objective on Mirum Pharmaceuticals from $120.00 to $118.00 and set an "outperform" rating for the company in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.64.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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