Insider Selling: Mirum Pharmaceuticals (NASDAQ:MIRM) CFO Sells 6,001 Shares of Stock

Key Points

• Mirum Pharmaceuticals CFO Eric Bjerkholt sold 6,001 shares at an average price of $99.90, totaling approximately $599,500. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his direct ownership by 14.17% to 36,355 shares.
• MIRM shares rose 0.8% to $98.97, while the company’s latest quarterly results showed revenue growing 37.9% year over year to $176.24 million but an adjusted loss of $1.06 per share, missing analyst expectations.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $137.33, despite the company’s negative profitability metrics.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total transaction of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. This trade represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $122.25, for a total transaction of $611,250.00.
• On Monday, June 8th, Eric Bjerkholt sold 5,000 shares of Mirum Pharmaceuticals stock. The stock was sold at an average price of $93.82, for a total transaction of $469,100.00.

Mirum Pharmaceuticals Stock Up 0.8%

MIRM stock traded up $0.74 during midday trading on Wednesday, hitting $98.97. The company's stock had a trading volume of 649,561 shares, compared to its average volume of 896,204. The company has a market cap of $6.43 billion, a PE ratio of -6.80 and a beta of 0.52. The firm's 50-day moving average is $110.50 and its 200-day moving average is $101.94. Mirum Pharmaceuticals, Inc. has a 12 month low of $63.23 and a 12 month high of $130.00. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The business had revenue of $176.24 million during the quarter, compared to analysts' expectations of $166.33 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The firm's revenue for the quarter was up 37.9% compared to the same quarter last year. On average, equities research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MIRM has been the topic of a number of recent analyst reports. Citigroup reaffirmed an "outperform" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 6th. Weiss Ratings raised shares of Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Stifel Nicolaus set a $136.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Wolfe Research assumed coverage on shares of Mirum Pharmaceuticals in a report on Tuesday, May 19th. They issued an "outperform" rating and a $145.00 target price on the stock. Finally, Morgan Stanley set a $137.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $137.33.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in shares of Mirum Pharmaceuticals by 14.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock valued at $641,764,000 after acquiring an additional 880,505 shares during the period. BlackRock Inc. purchased a new position in Mirum Pharmaceuticals during the second quarter valued at approximately $513,945,000. Vanguard Group Inc. boosted its position in shares of Mirum Pharmaceuticals by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company's stock worth $205,065,000 after purchasing an additional 50,720 shares during the period. State Street Corp boosted its position in shares of Mirum Pharmaceuticals by 59.2% in the fourth quarter. State Street Corp now owns 2,143,992 shares of the company's stock worth $169,354,000 after purchasing an additional 797,088 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Mirum Pharmaceuticals by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,420,375 shares of the company's stock worth $112,196,000 after purchasing an additional 137,087 shares in the last quarter.

About Mirum Pharmaceuticals

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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