Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Short Interest Update

Posted by Defense World Staff on Aug 1st, 2023

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM – Get Free Report) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 3,000,000 shares, a decline of 8.0% from the June 30th total of 3,260,000 shares. Based on an average daily trading volume, of 524,000 shares, the days-to-cover ratio is presently 5.7 days. Approximately 11.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MIRM shares. HC Wainwright upped their price objective on shares of Mirum Pharmaceuticals from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Raymond James dropped their target price on Mirum Pharmaceuticals from $83.00 to $81.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 13th.

Insider Transactions at Mirum Pharmaceuticals

In other news, insider Lara Longpre sold 1,004 shares of Mirum Pharmaceuticals stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $25.65, for a total value of $25,752.60. Following the transaction, the insider now directly owns 105,839 shares of the company’s stock, valued at approximately $2,714,770.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mirum Pharmaceuticals news, insider Lara Longpre sold 1,004 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $25.65, for a total value of $25,752.60. Following the transaction, the insider now directly owns 105,839 shares of the company’s stock, valued at approximately $2,714,770.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Peter Radovich sold 1,425 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 37,675 shares in the company, valued at $966,363.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,450 shares of company stock worth $635,821. 24.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of MIRM. Endurance Wealth Management Inc. boosted its position in Mirum Pharmaceuticals by 179.1% during the 4th quarter. Endurance Wealth Management Inc. now owns 1,954 shares of the company’s stock worth $38,000 after acquiring an additional 1,254 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Mirum Pharmaceuticals in the first quarter valued at $49,000. Belpointe Asset Management LLC acquired a new position in shares of Mirum Pharmaceuticals in the first quarter valued at $67,000. Legal & General Group Plc grew its position in Mirum Pharmaceuticals by 2,193.7% in the second quarter. Legal & General Group Plc now owns 6,583 shares of the company’s stock valued at $128,000 after acquiring an additional 6,296 shares during the period. Finally, American International Group Inc. grew its position in Mirum Pharmaceuticals by 315.7% in the second quarter. American International Group Inc. now owns 7,436 shares of the company’s stock valued at $145,000 after acquiring an additional 5,647 shares during the period.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $25.76 on Tuesday. The firm has a market capitalization of $979.65 million, a price-to-earnings ratio of -7.06 and a beta of 1.27. Mirum Pharmaceuticals has a one year low of $17.32 and a one year high of $30.55. The stock’s fifty day moving average is $26.74 and its 200-day moving average is $25.17.

Mirum Pharmaceuticals (NASDAQ:MIRM – Get Free Report) last released its earnings results on Thursday, May 4th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.16. The firm had revenue of $31.60 million for the quarter, compared to analyst estimates of $30.58 million. Mirum Pharmaceuticals had a negative return on equity of 91.76% and a negative net margin of 134.90%. Analysts forecast that Mirum Pharmaceuticals will post -2.35 EPS for the current fiscal year.

About Mirum Pharmaceuticals

(Get Free Report)

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.