Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Short Interest Up 8.3% in August

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRMGet Rating) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,340,000 shares, an increase of 8.3% from the August 15th total of 2,160,000 shares. Approximately 11.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 297,000 shares, the short-interest ratio is currently 7.9 days.

Wall Street Analysts Forecast Growth

MIRM has been the subject of a number of analyst reports. Citigroup assumed coverage on shares of Mirum Pharmaceuticals in a report on Thursday, September 1st. They issued a “buy” rating and a $38.00 price target for the company. HC Wainwright dropped their target price on Mirum Pharmaceuticals from $69.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, August 11th. Finally, SVB Leerink boosted their target price on Mirum Pharmaceuticals from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, May 24th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $48.50.

Mirum Pharmaceuticals Trading Up 2.4 %

Shares of NASDAQ MIRM opened at $23.48 on Monday. Mirum Pharmaceuticals has a 12-month low of $12.82 and a 12-month high of $30.55. The stock’s fifty day simple moving average is $24.70 and its two-hundred day simple moving average is $23.68. The stock has a market capitalization of $862.77 million, a PE ratio of -14.23 and a beta of 1.43.

Mirum Pharmaceuticals (NASDAQ:MIRMGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.21. The company had revenue of $17.48 million for the quarter, compared to the consensus estimate of $15.67 million. Mirum Pharmaceuticals had a negative return on equity of 139.72% and a negative net margin of 137.85%. On average, equities analysts predict that Mirum Pharmaceuticals will post -4.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several hedge funds have recently modified their holdings of MIRM. Raymond James Financial Services Advisors Inc. boosted its position in Mirum Pharmaceuticals by 6.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,322 shares of the company’s stock valued at $404,000 after buying an additional 1,574 shares during the last quarter. Sio Capital Management LLC increased its stake in shares of Mirum Pharmaceuticals by 8.6% in the fourth quarter. Sio Capital Management LLC now owns 270,314 shares of the company’s stock worth $4,312,000 after acquiring an additional 21,336 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Mirum Pharmaceuticals by 118.0% in the fourth quarter. Point72 Asset Management L.P. now owns 314,843 shares of the company’s stock worth $5,022,000 after acquiring an additional 170,443 shares during the period. PDT Partners LLC purchased a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $347,000. Finally, Silvercrest Asset Management Group LLC acquired a new position in Mirum Pharmaceuticals during the fourth quarter valued at $4,566,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

About Mirum Pharmaceuticals

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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.

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