Mirum Pharmaceuticals (NASDAQ:MIRM) Sees Large Volume Increase After Insider Buying Activity

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) saw unusually-high trading volume on Thursday after an insider bought additional shares in the company. Approximately 1,755,230 shares traded hands during mid-day trading, an increase of 256% from the previous session’s volume of 493,238 shares.The stock last traded at $31.52 and had previously closed at $29.96.

Specifically, COO Peter Radovich sold 1,425 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $25.65, for a total transaction of $36,551.25. Following the completion of the sale, the chief operating officer now owns 37,675 shares of the company’s stock, valued at $966,363.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mirum Pharmaceuticals news, COO Peter Radovich sold 1,425 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $25.65, for a total transaction of $36,551.25. Following the completion of the sale, the chief operating officer now owns 37,675 shares of the company’s stock, valued at $966,363.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael G. Grey sold 14,216 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $32.00, for a total value of $454,912.00. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 162,678 shares of company stock valued at $4,323,280 and sold 26,517 shares valued at $772,439. Company insiders own 24.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MIRM shares. Raymond James upped their price target on Mirum Pharmaceuticals from $79.00 to $84.00 and gave the stock a “strong-buy” rating in a report on Monday, August 21st. HC Wainwright reiterated a “buy” rating and set a $63.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday.

Mirum Pharmaceuticals Stock Up 8.0 %

The business has a 50 day moving average of $26.45 and a 200 day moving average of $25.95. The company has a debt-to-equity ratio of 3.89, a current ratio of 6.59 and a quick ratio of 6.44. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -6.81 and a beta of 1.25.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Thursday, August 3rd. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.11). The firm had revenue of $37.50 million during the quarter, compared to analyst estimates of $30.00 million. Mirum Pharmaceuticals had a negative net margin of 152.27% and a negative return on equity of 103.59%. On average, equities analysts anticipate that Mirum Pharmaceuticals, Inc. will post -2.41 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Eventide Asset Management LLC raised its stake in shares of Mirum Pharmaceuticals by 68.0% in the second quarter. Eventide Asset Management LLC now owns 3,459,201 shares of the company’s stock valued at $89,490,000 after purchasing an additional 1,400,000 shares in the last quarter. BlackRock Inc. grew its position in Mirum Pharmaceuticals by 18.7% in the second quarter. BlackRock Inc. now owns 2,030,375 shares of the company’s stock valued at $52,526,000 after acquiring an additional 320,549 shares during the period. Rock Springs Capital Management LP grew its position in Mirum Pharmaceuticals by 1.4% in the second quarter. Rock Springs Capital Management LP now owns 1,820,733 shares of the company’s stock valued at $47,102,000 after acquiring an additional 25,000 shares during the period. State Street Corp grew its position in Mirum Pharmaceuticals by 27.7% in the second quarter. State Street Corp now owns 1,494,417 shares of the company’s stock valued at $38,661,000 after acquiring an additional 323,992 shares during the period. Finally, Cadian Capital Management LP grew its position in Mirum Pharmaceuticals by 72.1% in the second quarter. Cadian Capital Management LP now owns 1,264,922 shares of the company’s stock valued at $32,724,000 after acquiring an additional 530,000 shares during the period.

Mirum Pharmaceuticals Company Profile

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.