Gold prices cool after hitting over 2-week high on Fed independence fears
Christopher Peetz, the CEO of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), a $2.3 billion market cap company trading near its 52-week high, recently sold 6,837 shares of the company's common stock. The shares were sold at an average price of $47.92, amounting to a total transaction value of $327,658. According to InvestingPro data, MIRM has delivered an impressive 82% return over the past year.
The sale, which took place on January 24, 2025, was part of a transaction to cover tax withholding obligations linked to the vesting of restricted stock units. Following this transaction, Peetz holds 125,022 shares directly. Additionally, he holds 208,570 shares indirectly through The Peetz Family Trust. InvestingPro analysis shows the company maintains strong financial health with a current ratio of 3.34, while analysts maintain a Strong Buy consensus on the stock.
Earlier, on January 23, Peetz acquired 12,500 shares through the vesting of restricted stock units, which did not involve a cash transaction. As of the latest filing, Peetz's direct ownership totals 131,859 shares. For deeper insights into MIRM's valuation and growth prospects, investors can access comprehensive analysis through InvestingPro's detailed research reports.
In other recent news, Mirum Pharmaceuticals reported a surge in net product sales and a robust performance for its leading medicine, LIVMARLI. The company's 2024 financial results surpassed its sales guidance, with net product sales amounting to roughly $336 million. Looking ahead, the company projects global net product sales for 2025 to reach between $420 million and $435 million. Analysts from H.C. Wainwright have reiterated a Buy rating on Mirum, following these strong results.
Additional developments include the expansion of its drug LIVMARLI and positive interim results for its volixibat treatments in cholestatic diseases. The company has also submitted a New Drug Application for chenodiol and acquired rights to MRM-3379 for Fragile X syndrome. Mirum's financial strength is demonstrated by a year-end cash balance of approximately $287 million and positive cash flow from operations in the third quarter of 2024.
In the pipeline, the VISTAS study of volixibat is expected to complete enrollment in the second half of 2025, with topline data anticipated in 2026. The FDA has set a Prescription Drug User Fee Act date for chenodiol in cerebrotendinous xanthomatosis for March 28, 2025. These are recent developments that reflect Mirum's strategy to solidify its position in the treatment of rare diseases.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.