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

Eventide Asset Management LLC cut its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,522,563 shares of the company’s stock after selling 114,922 shares during the period. Mirum Pharmaceuticals makes up approximately 3.0% of Eventide Asset Management LLC’s holdings, making the stock its 2nd largest holding. Eventide Asset Management LLC owned about 4.91% of Mirum Pharmaceuticals worth $184,923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC grew its holdings in shares of Mirum Pharmaceuticals by 30.8% in the 3rd quarter. CWM LLC now owns 683 shares of the company’s stock worth $50,000 after acquiring an additional 161 shares during the period. Legal & General Group Plc boosted its position in Mirum Pharmaceuticals by 0.4% during the second quarter. Legal & General Group Plc now owns 43,010 shares of the company’s stock worth $2,189,000 after purchasing an additional 176 shares in the last quarter. MCF Advisors LLC grew its holdings in Mirum Pharmaceuticals by 76.4% in the third quarter. MCF Advisors LLC now owns 427 shares of the company’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Mirum Pharmaceuticals by 34.0% in the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company’s stock valued at $70,000 after buying an additional 243 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Mirum Pharmaceuticals by 2.6% in the third quarter. Arizona State Retirement System now owns 10,984 shares of the company’s stock valued at $805,000 after buying an additional 275 shares in the last quarter.

Mirum Pharmaceuticals Trading Up 1.0%

Shares of MIRM stock opened at $90.66 on Friday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -188.87 and a beta of 0.52. The company has a current ratio of 2.67, a quick ratio of 2.55 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $95.39 and a 200 day moving average price of $80.68. Mirum Pharmaceuticals, Inc. has a twelve month low of $36.88 and a twelve month high of $109.28.

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

Wall Street Analyst Weigh In

MIRM has been the topic of several recent research reports. Evercore set a $126.00 price objective on shares of Mirum Pharmaceuticals in a research report on Wednesday, March 4th. Morgan Stanley raised their target price on shares of Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Friday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, December 8th. Finally, Citizens Jmp dropped their price objective on shares of Mirum Pharmaceuticals from $140.00 to $132.00 and set a “market outperform” rating for the company in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

Insider Activity

In related news, insider Joanne Quan sold 6,911 shares of the stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $90.27, for a total transaction of $623,855.97. Following the transaction, the insider directly owned 11,305 shares in the company, valued at approximately $1,020,502.35. This represents a 37.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick J. Heron bought 131,425 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average cost of $68.48 per share, for a total transaction of $8,999,984.00. Following the completion of 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 SEC filing for this purchase provides additional information. Insiders sold a total of 45,136 shares of company stock valued at $4,352,029 in the last three months. Company insiders own 14.36% of the company’s stock.

Mirum Pharmaceuticals Company Profile

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.