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

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company 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 Ratings Changes

A number of equities analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Citigroup increased their price target on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird upped their price objective on shares of Mirum Pharmaceuticals from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $57.10.

Mirum Pharmaceuticals Price Performance

The company has a market cap of $2.52 billion, a price-to-earnings ratio of -26.03 and a beta of 0.96. The company has a 50-day simple moving average of $45.62 and a 200-day simple moving average of $42.84. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, COO Peter Radovich sold 1,998 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $85,554.36. Following the completion of the sale, the chief operating officer now owns 27,015 shares of the company’s stock, valued at $1,156,782.30. The trade was a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Peetz sold 9,102 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $48.22, for a total value 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. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,915 shares of company stock worth $1,897,920. 22.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in Mirum Pharmaceuticals during the 4th quarter worth $42,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Mirum Pharmaceuticals by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,888 shares of the company’s stock worth $3,055,000 after buying an additional 10,427 shares during the period. Woodline Partners LP increased its stake in Mirum Pharmaceuticals by 22.2% during the 4th quarter. Woodline Partners LP now owns 404,404 shares of the company’s stock valued at $16,722,000 after buying an additional 73,399 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth approximately $897,000. Finally, Tema Etfs LLC bought a new stake in shares of Mirum Pharmaceuticals in the 4th quarter worth $1,735,000.

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.