Mirum Pharmaceuticals (NASDAQ:MIRM) CEO Sells 20,000 Shares of Stock

Key Points

• Mirum Pharmaceuticals CEO Christopher Peetz sold 20,000 shares on July 6 at an average price of $122.27, totaling about $2.45 million. The sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• After the transaction, Peetz still owned 194,309 shares of the company, valued at roughly $23.76 million, and his ownership fell by 9.33%. He also sold 30,000 shares in an earlier June transaction.
• Mirum’s stock was trading near its 52-week high at $128.57, while analysts remain generally upbeat with a Moderate Buy consensus and a target price of $143.40. The company recently reported strong revenue growth, though earnings missed expectations by a wide margin.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) CEO Christopher Peetz sold 20,000 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $122.27, for a total value of $2,445,400.00. Following the completion of the sale, the chief executive officer directly owned 194,309 shares in the company, valued at $23,758,161.43. The trade was a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00.

Mirum Pharmaceuticals Trading Up 0.2%

MIRM traded up $0.26 during midday trading on Wednesday, reaching $128.57. 885,134 shares of the company's stock traded hands, compared to its average volume of 931,937. Mirum Pharmaceuticals, Inc. has a 52 week low of $50.25 and a 52 week high of $129.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The firm has a fifty day moving average of $104.54 and a two-hundred day moving average of $96.79. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of -9.45 and a beta of 0.48.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($12.68). The business had revenue of $159.88 million during the quarter, compared to the consensus estimate of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.Mirum Pharmaceuticals's quarterly 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. On average, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Faithward Advisors LLC grew its holdings in shares of Mirum Pharmaceuticals by 0.5% during 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 during the last quarter. Janney Montgomery Scott LLC raised its holdings in Mirum Pharmaceuticals by 6.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company's stock worth $253,000 after acquiring an additional 200 shares during the last quarter. Comerica Bank lifted its position 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 acquiring an additional 278 shares in the last quarter. Osaic Holdings Inc. lifted its position in Mirum Pharmaceuticals by 46.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,106 shares of the company's stock valued at $56,000 after acquiring an additional 351 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Mirum Pharmaceuticals during the 4th quarter valued at $30,000.

Wall Street Analyst Weigh In

MIRM has been the topic of several research analyst reports. Robert W. Baird boosted their price target on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. HC Wainwright restated a "buy" rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. TD Cowen lifted their target price on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Stifel Nicolaus set a $136.00 price target on Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Evercore reissued an "outperform" rating and issued a $138.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. 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 data from MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.40.

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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