Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Short Interest Up 8.3% in August

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRMGet Rating) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,340,000 shares, an increase of 8.3% from the August 15th total of 2,160,000 shares. Based on an average daily trading volume, of 297,000 shares, the short-interest ratio is presently 7.9 days. Approximately 11.4% of the shares of the stock are short sold.

Institutional Trading of Mirum Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Mirum Pharmaceuticals during the 1st quarter valued at approximately $41,000. Lazard Asset Management LLC purchased a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at approximately $47,000. Legal & General Group Plc raised its position in shares of Mirum Pharmaceuticals by 2,193.7% during the 2nd quarter. Legal & General Group Plc now owns 6,583 shares of the company’s stock valued at $128,000 after buying an additional 6,296 shares during the period. American International Group Inc. raised its position in shares of Mirum Pharmaceuticals by 315.7% during the 2nd quarter. American International Group Inc. now owns 7,436 shares of the company’s stock valued at $145,000 after buying an additional 5,647 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Mirum Pharmaceuticals by 90.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,135 shares of the company’s stock valued at $197,000 after buying an additional 4,816 shares during the period. Hedge funds and other institutional investors own 89.62% of the company’s stock.

Mirum Pharmaceuticals Price Performance

MIRM opened at $22.29 on Tuesday. The company’s 50 day simple moving average is $24.70 and its two-hundred day simple moving average is $23.71. Mirum Pharmaceuticals has a 1-year low of $12.82 and a 1-year high of $30.55. The firm has a market capitalization of $819.05 million, a price-to-earnings ratio of -13.51 and a beta of 1.43.

Mirum Pharmaceuticals (NASDAQ:MIRMGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.21. Mirum Pharmaceuticals had a negative net margin of 137.85% and a negative return on equity of 139.72%. The business had revenue of $17.48 million for the quarter, compared to analyst estimates of $15.67 million. On average, equities analysts anticipate that Mirum Pharmaceuticals will post -4.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on MIRM. SVB Leerink lifted their price objective on Mirum Pharmaceuticals from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, May 24th. Citigroup began coverage on Mirum Pharmaceuticals in a report on Thursday, September 1st. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, HC Wainwright lowered their price objective on Mirum Pharmaceuticals from $69.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, August 11th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $48.50.

Mirum Pharmaceuticals Company Profile

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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.

Further Reading

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