Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Short Interest Update

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM – Get Rating) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 545,100 shares, a decline of 27.2% from the March 15th total of 748,800 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average trading volume of 183,600 shares, the short-interest ratio is presently 3.0 days.

NASDAQ:MIRM traded up $0.05 during trading hours on Friday, reaching $27.50. 152,583 shares of the company were exchanged, compared to its average volume of 136,101. The stock’s 50-day moving average is $23.15 and its 200-day moving average is $18.62. The firm has a market cap of $872.58 million, a PE ratio of -9.93 and a beta of 1.40. Mirum Pharmaceuticals has a twelve month low of $12.82 and a twelve month high of $28.65.

Mirum Pharmaceuticals (NASDAQ:MIRM – Get Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported ($0.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.31). The business had revenue of $3.14 million for the quarter, compared to the consensus estimate of $76.60 million. As a group, research analysts anticipate that Mirum Pharmaceuticals will post -5.01 EPS for the current fiscal year.

MIRM has been the subject of several research reports. SVB Leerink lifted their price objective on shares of Mirum Pharmaceuticals from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 28th. Raymond James boosted their target price on shares of Mirum Pharmaceuticals from $70.00 to $74.00 and gave the company a “strong-buy” rating in a research note on Friday, March 11th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $49.60.

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of Mirum Pharmaceuticals by 348.7% during the fourth quarter. Citigroup Inc. now owns 1,844 shares of the company’s stock worth $29,000 after buying an additional 1,433 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Mirum Pharmaceuticals by 223.9% in the third quarter. Cubist Systematic Strategies LLC now owns 5,240 shares of the company’s stock valued at $104,000 after purchasing an additional 3,622 shares during the period. Bank of America Corp DE grew its holdings in shares of Mirum Pharmaceuticals by 102.3% in the fourth quarter. Bank of America Corp DE now owns 6,706 shares of the company’s stock valued at $107,000 after purchasing an additional 3,391 shares during the period. Congress Wealth Management LLC DE purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $160,000. Finally, Rothschild Investment Corp IL purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $247,000. 78.82% of the stock is owned by institutional investors and hedge funds.

About Mirum Pharmaceuticals (Get Rating)

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. The company's lead product candidate is LIVMARLI, an investigational oral drug for the treatment of progressive familial intrahepatic cholestasis disease, as well as for the treatment of Alagille syndrome and biliary atresia disease.

See Also