Eventide Asset Management LLC Sells 114,922 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Eventide Asset Management LLC cut its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,522,563 shares of the company’s stock after selling 114,922 shares during the period. Mirum Pharmaceuticals comprises about 3.0% of Eventide Asset Management LLC’s holdings, making the stock its 2nd largest position. Eventide Asset Management LLC’s holdings in Mirum Pharmaceuticals were worth $184,923,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brevan Howard Capital Management LP purchased a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth about $762,000. Aquatic Capital Management LLC raised its position in Mirum Pharmaceuticals by 73.3% in the third quarter. Aquatic Capital Management LLC now owns 63,946 shares of the company’s stock valued at $4,688,000 after purchasing an additional 27,049 shares during the period. Algert Global LLC lifted its stake in shares of Mirum Pharmaceuticals by 19.6% during the third quarter. Algert Global LLC now owns 190,599 shares of the company’s stock worth $13,973,000 after purchasing an additional 31,250 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Mirum Pharmaceuticals during the third quarter worth about $536,000. Finally, Creative Planning boosted its position in shares of Mirum Pharmaceuticals by 38.3% in the third quarter. Creative Planning now owns 12,744 shares of the company’s stock worth $934,000 after buying an additional 3,527 shares during the period.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 968 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $103.30, for a total transaction of $99,994.40. Following the transaction, the senior vice president directly owned 4,503 shares in the company, valued at $465,159.90. This represents a 17.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patrick J. Heron purchased 131,425 shares of Mirum Pharmaceuticals stock in a transaction dated Friday, January 23rd. The shares were bought at an average cost of $68.48 per share, for a total transaction of $8,999,984.00. Following the transaction, the director directly owned 459,010 shares of the company’s stock, valued at approximately $31,433,004.80. The trade was a 40.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 45,136 shares of company stock valued at $4,352,029 over the last ninety days. 14.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MIRM has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a report on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Mirum Pharmaceuticals in a research report on Monday, December 8th. Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Evercore set a $126.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

Mirum Pharmaceuticals Price Performance

MIRM stock opened at $90.66 on Friday. The company has a quick ratio of 2.55, a current ratio of 2.67 and a debt-to-equity ratio of 0.98. Mirum Pharmaceuticals, Inc. has a 52-week low of $36.88 and a 52-week high of $109.28. The stock’s 50 day moving average is $95.39 and its two-hundred day moving average is $80.68. The company has a market capitalization of $5.47 billion, a PE ratio of -188.87 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The business had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. During the same period in the previous year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. Analysts predict that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current fiscal year.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.