Mirum Pharmaceuticals (NASDAQ:MIRM) Trading Up 4.3%

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price rose 4.3% during mid-day trading on Tuesday . The stock traded as high as $19.19 and last traded at $19.08. Approximately 6,823 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 113,519 shares. The stock had previously closed at $18.30.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Mirum Pharmaceuticals in a report on Monday, September 20th. They issued an “overweight” rating and a $30.00 price target on the stock. HC Wainwright lowered their price objective on Mirum Pharmaceuticals from $52.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, September 14th. Zacks Investment Research raised Mirum Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 10th. Raymond James lowered their price target on Mirum Pharmaceuticals from $52.00 to $51.00 and set a “strong-buy” rating on the stock in a report on Tuesday, September 14th. Finally, SVB Leerink reduced their price target on shares of Mirum Pharmaceuticals from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Monday, September 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $36.00.

The firm has a market capitalization of $582.86 million, a price-to-earnings ratio of -3.38 and a beta of 2.30. The stock’s fifty day moving average is $16.14 and its two-hundred day moving average is $17.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its quarterly earnings results on Thursday, August 5th. The company reported ($1.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($1.04). The company had revenue of $11.00 million for the quarter, compared to analyst estimates of $29.00 million. As a group, analysts expect that Mirum Pharmaceuticals, Inc. will post -4.89 EPS for the current fiscal year.

In related news, major shareholder James E. Flynn sold 99,325 shares of the company’s stock in a transaction on Friday, July 9th. The stock was sold at an average price of $15.81, for a total transaction of $1,570,328.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James E. Flynn sold 10,599 shares of the company’s stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $17.01, for a total value of $180,288.99. The disclosure for this sale can be found here. Insiders sold 159,163 shares of company stock valued at $2,548,289 in the last three months. Company insiders own 62.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MIRM. BlackRock Inc. boosted its position in shares of Mirum Pharmaceuticals by 37.1% in the 1st quarter. BlackRock Inc. now owns 760,839 shares of the company’s stock worth $15,078,000 after purchasing an additional 205,950 shares in the last quarter. AXA S.A. increased its position in shares of Mirum Pharmaceuticals by 16.3% during the second quarter. AXA S.A. now owns 661,592 shares of the company’s stock worth $11,439,000 after acquiring an additional 92,610 shares during the period. Geode Capital Management LLC increased its holdings in Mirum Pharmaceuticals by 53.7% in the first quarter. Geode Capital Management LLC now owns 172,430 shares of the company’s stock valued at $3,417,000 after buying an additional 60,218 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Mirum Pharmaceuticals in the second quarter valued at about $854,000. Finally, Morgan Stanley increased its stake in shares of Mirum Pharmaceuticals by 7,247.9% during the 2nd quarter. Morgan Stanley now owns 45,116 shares of the company’s stock worth $781,000 after purchasing an additional 44,502 shares in the last quarter. Hedge funds and other institutional investors own 76.74% of the company’s stock.

About Mirum Pharmaceuticals (NASDAQ:MIRM)

Mirum Pharmaceuticals, Inc is a biopharmaceutical company. The firm focuses on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. Its product candidates include Maralixibat and Volixibat. The company was founded by Niall O’Donnel, Michael Grey and Christopher Peetz on May 7, 2018 and is headquartered in Foster City, CA.

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