Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Down 4.4%

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price traded down 4.4% during trading on Thursday . The company traded as low as $40.72 and last traded at $41.93. 123,471 shares traded hands during trading, a decline of 80% from the average session volume of 618,897 shares. The stock had previously closed at $43.87.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Friday, July 26th. JMP Securities upped their target price on Mirum Pharmaceuticals from $66.00 to $68.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 18th. Stifel Nicolaus restated a “buy” rating and set a $48.00 price target on shares of Mirum Pharmaceuticals in a research note on Monday, June 17th. Robert W. Baird upped their price objective on shares of Mirum Pharmaceuticals from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Baird R W raised shares of Mirum Pharmaceuticals to a “strong-buy” rating in a research report on Monday, June 17th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $56.27.

Mirum Pharmaceuticals Stock Performance

The stock has a market cap of $2.03 billion, a P/E ratio of -11.52 and a beta of 1.15. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.47 and a current ratio of 3.68. The firm’s 50 day moving average is $38.82 and its 200 day moving average is $30.67.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Mirum Pharmaceuticals had a negative net margin of 69.67% and a negative return on equity of 56.46%. The business had revenue of $77.90 million for the quarter, compared to analysts’ expectations of $75.03 million. During the same quarter in the prior year, the company posted ($0.92) EPS. The business’s revenue for the quarter was up 107.7% on a year-over-year basis. Analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

Insiders Place Their Bets

In other news, insider Pamela Vig sold 30,559 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $34.00, for a total transaction of $1,039,006.00. Following the transaction, the insider now owns 27,406 shares in the company, valued at $931,804. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Mirum Pharmaceuticals news, Director Saira Ramasastry sold 5,000 shares of Mirum Pharmaceuticals stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.68, for a total transaction of $128,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela Vig sold 30,559 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $34.00, for a total value of $1,039,006.00. Following the sale, the insider now owns 27,406 shares in the company, valued at approximately $931,804. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,934 shares of company stock valued at $1,180,156. 22.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of MIRM. Quest Partners LLC raised its position in Mirum Pharmaceuticals by 7,513.3% during the 2nd quarter. Quest Partners LLC now owns 1,142 shares of the company’s stock worth $39,000 after buying an additional 1,127 shares during the last quarter. AJOVista LLC acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth $40,000. Amalgamated Bank raised its holdings in shares of Mirum Pharmaceuticals by 60.8% during the second quarter. Amalgamated Bank now owns 1,357 shares of the company’s stock worth $46,000 after purchasing an additional 513 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its position in Mirum Pharmaceuticals by 71.4% during the first quarter. Wetzel Investment Advisors Inc. now owns 2,400 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares during the period. Finally, StepStone Group LP purchased a new stake in Mirum Pharmaceuticals in the fourth quarter valued at $135,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.