Mirum Pharmaceuticals (NASDAQ:MIRM) Reaches New 1-Year High – Here’s What Happened

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $53.53 and last traded at $53.24, with a volume of 182269 shares trading hands. The stock had previously closed at $52.70.

Analyst Upgrades and Downgrades

MIRM has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a research note on Wednesday, November 13th. Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Citigroup boosted their target price on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mirum Pharmaceuticals presently has an average rating of “Buy” and an average price target of $57.10.

Mirum Pharmaceuticals Price Performance

The business’s fifty day simple moving average is $46.21 and its 200-day simple moving average is $43.07. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.33. The firm has a market cap of $2.52 billion, a P/E ratio of -25.99 and a beta of 0.96.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 9,102 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $48.22, for a total transaction of $438,898.44. Following the sale, the chief executive officer now owns 115,920 shares of the company’s stock, valued at $5,589,662.40. The trade was a 7.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Peter Radovich sold 1,998 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $85,554.36. Following the transaction, the chief operating officer now owns 27,015 shares of the company’s stock, valued at $1,156,782.30. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,915 shares of company stock valued at $1,897,920 in the last 90 days. 22.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MIRM. Jones Financial Companies Lllp grew its position in shares of Mirum Pharmaceuticals by 100.0% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the company’s stock valued at $30,000 after purchasing an additional 357 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at $35,000. GF Fund Management CO. LTD. purchased a new position in shares of Mirum Pharmaceuticals during the 4th quarter valued at $42,000. Mirae Asset Global Investments Co. Ltd. grew its position in Mirum Pharmaceuticals by 22.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,725 shares of the company’s stock worth $67,000 after acquiring an additional 318 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Mirum Pharmaceuticals in the fourth quarter worth $69,000.

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. 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.