The cluster is too small relative to Mirum's $6.5B market cap to be informative. The CFO's $600K sale is routine diversification, and Howe's $4.00M sale is a standard cashless exercise (no cash outlay, shares sold to cover cost/taxes). These appear 10b5-1 or pattern-driven. No bearish signal. Monitor for any C-suite cluster buys or large open-market sells (>$10M) for a genuine signal.
Price Chart
Executive Summary
Two insiders at Mirum Pharmaceuticals sold a combined $4.60M in shares over a one-week window. SVP/Global Controller Jolanda Howe sold $4.00M (40K shares at $100) on 8/18, offsetting a prior option exercise at $6.27, while CFO Eric Bjerkholt sold $600K (6K shares at $99.90) on 8/11. At a $6.5B market cap, the $4.60M cluster represents only 0.07% of market cap, falling below our 0.1% materiality threshold, making this a routine liquidity-driven cluster.
Key Financial Metrics
Key Facts
- Total cluster value: $4.60M (0.07% of $6.5B market cap)
- CFO Eric Bjerkholt sold 6,000 shares at $99.90 for $600K on 2026-08-11
- SVP/Global Controller sold 40,000 shares at $100.00 for $4.00M on 2026-08-18
- Howe's sale was paired with non-cash derivative exercises (40K shares at $0, 40K at $6.27) — likely a cashless exercise-and-sell
- Both sells are open-market sales (code S); no C-suite or 10%-owner buys in the cluster
- Recent insider activity (30d): 6 sells totaling $6.8M, indicating a consistent or periodic pattern
Financial Impact
$4.60M total insider sales, representing 0.07% of market cap — trivial relative to company size
Risk Factors
- Reliance on pattern: if this is a one-time acceleration not part of a pre-arranged plan, the signal would strengthen
- Upcoming earnings or pipeline data could be a catalyst; the cluster timing may precede a binary event
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MIRM-1787198821338 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 19, 2026 6w ago | Insider Cluster | $102.24 $98.82 | ▼ −3.35% | ▼ −1.39% | $83.24 (−18.58%) |
Aug 12, 2026 7w ago | Insider Cluster | $98.97 $100.61 | ▲ +1.66% | ▲ +3.55% | $83.24 (−15.89%) |
Aug 11, 2026 7w ago | Insider Cluster | $98.97 $100.61 | ▼ −1.66% | ▼ −3.55% | $83.24 (+15.89%) |
Aug 10, 2026 7w ago | 144 | $98.23 $98.30 | ▲ +0.07% | ▲ +1.13% | $83.24 (−15.26%) |
Aug 5, 2026 8w ago | 8-K | $94.12 $100.63 | ▲ +6.92% | ▲ +6.32% | $83.24 (−11.56%) |
Jul 8, 2026 12w ago | Insider Cluster | $128.57 $105.79 | ▼ −17.72% | ▼ −20.99% | $83.24 (−35.26%) |
Jun 11, 2026 16w ago | Institutional Cluster | $99.54 $127.70 | ▲ +28.29% | ▲ +26.40% | $83.24 (−16.38%) |
Jun 10, 2026 16w ago | Insider Cluster | $94.00 $127.70 | ▲ +35.85% | ▲ +32.23% | $83.24 (−11.45%) |
Jun 2, 2026 17w ago | Insider Cluster | $91.84 $125.59 | ▲ +36.76% | ▲ +37.76% | $83.24 (−9.36%) |
Jun 1, 2026 17w ago | 144 | $92.17 $120.46 | ▲ +30.69% | ▲ +32.26% | $83.24 (−9.69%) |
US Market Status
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