This trade activity should not be overlooked: Mirum Pharmaceuticals Inc (MIRM)

Mirum Pharmaceuticals Inc (NASDAQ: MIRM) stock fell -0.68% on Monday to $32.10 against a previous-day closing price of $32.32. With 0.89 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.51 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $32.54 whereas the lowest price it dropped to was $31.90. The 52-week range on MIRM shows that it touched its highest point at $33.39 and its lowest point at $17.49 during that stretch. It currently has a 1-year price target of $54.70. Beta for the stock currently stands at 1.22.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MIRM was up-trending over the past week, with a rise of 5.28%, but this was up by 11.07% over a month. Three-month performance surged to 22.05% while six-month performance rose 14.93%. The stock gained 62.29% in the past year, while it has gained 64.62% so far this year. A look at the trailing 12-month EPS for MIRM yields -4.31 with Next year EPS estimates of -0.23. For the next quarter, that number is -0.27. This implies an EPS growth rate of 13.60% for this year and 93.32% for next year.

Float and Shares Shorts:

At present, 36.96 million MIRM shares are outstanding with a float of 32.67 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.08 million, which was 13.05% higher than short shares on Sep 28, 2023. In addition to Mr. Christopher Peetz as the firm’s President, CEO & Director, Mr. Peter Radovich M.B.A., Ph.D. serves as its Chief Operating Officer.

Institutional Ownership:

Through their ownership of 84.83% of MIRM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 65.99% of MIRM, in contrast to 45.45% held by mutual funds. Shares owned by individuals account for 36.82%. As the largest shareholder in MIRM with 11.41% of the stake, BVF Partners LP holds 4,370,024 shares worth 4,370,024. A second-largest stockholder of MIRM, Eventide Asset Management LLC, holds 3,958,579 shares, controlling over 10.34% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MIRM, holding 1,943,422 shares or 5.07% stake. With a 5.38% stake in MIRM, the Eventide Healthcare & Life Scienc is the largest stakeholder. A total of 2,059,201 shares are owned by the mutual fund manager. The Eventide Gilead Fund, which owns about 3.66% of MIRM stock, is the second-largest Mutual Fund holder. It holds 1,400,000 shares valued at 38.4 million. SPDR S&P Biotech ETF holds 3.11% of the stake in MIRM, owning 1,189,305 shares worth 32.62 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MIRM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MIRM analysts setting a high price target of $78.00 and a low target of $37.00, the average target price over the next 12 months is $54.70. Based on these targets, MIRM could surge 142.99% to reach the target high and rise by 15.26% to reach the target low. Reaching the average price target will result in a growth of 70.4% from current levels.

Summary of Insider Activity:

Insiders traded MIRM stock several times over the past three months with 6 Buys and 3 Sells. In these transactions, 35,670 shares were bought while 18,067 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 251,519 while 6,117,550 shares were sold.