In a recent transaction, Pamela Vig, the Chief Scientific Officer of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), sold 1,379 shares of the company's common stock at an average price of $20.6223, for a total transaction value of approximately $28,438. The sale was executed on January 9, 2023, as reported in a Form 4 document filed with the Securities and Exchange Commission.
The transaction reflects the sale of shares by Vig to cover tax withholding obligations associated with the vesting of restricted stock units, as noted in the footnotes of the filing. Following the sale, Vig still retains 27,312 shares of Mirum Pharmaceuticals directly, indicating continued investment in the company. Additionally, the filing disclosed that 75,000 shares of common stock are held indirectly by The Vig-Ancock Family Trust.
Investors often monitor insider transactions as they can provide insights into how the company's executives and key stakeholders perceive the firm's future prospects and financial health. The sale by a high-ranking executive like Vig can attract attention, although it is not uncommon for executives to sell shares for personal financial planning, including tax obligations.
Mirum Pharmaceuticals, based in Foster City, California, specializes in the development of pharmaceutical preparations and is recognized for its contributions to the life sciences sector. The company's business address and mailing address are located at 950 Tower Lane, Suite 1050, in Foster City, CA, with a business phone number listed as 650-667-4085.
InvestingPro Insights
As investors evaluate the recent insider transaction at Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM), it's important to consider the company's financial health and market performance. According to InvestingPro data, Mirum Pharmaceuticals has a market capitalization of approximately $1.22 billion. Despite a challenging P/E ratio of -6.55, reflecting the company's current lack of profitability, the firm has demonstrated impressive revenue growth over the last twelve months as of Q4 2023, with an increase of 141.85%. This significant growth is further underscored by a gross profit margin of 74.76%, highlighting the company's strong ability to generate revenue over its cost of goods sold.
Delving into the InvestingPro Tips, it's noted that analysts have recently revised their earnings estimates downwards for the upcoming period, and they do not anticipate Mirum Pharmaceuticals to be profitable this year. However, the company's liquid assets do exceed its short-term obligations, indicating a degree of financial stability. With a moderate level of debt and no dividend payments to shareholders, the company appears to be focusing on growth and reinvestment.
For those interested in gaining deeper insights and additional tips on Mirum Pharmaceuticals, InvestingPro offers more information on the company's financial metrics and future prospects. As of now, there are six additional InvestingPro Tips available which can provide investors with a more comprehensive understanding of the company's financial position and potential investment opportunities. To access these insights, visit https://www.investing.com/pro/MIRM and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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