Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC lowered its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 24.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,445,363 shares of the company’s stock after selling 1,119,457 shares during the period. Mirum Pharmaceuticals makes up 2.3% of Eventide Asset Management LLC’s portfolio, making the stock its 6th largest holding. Eventide Asset Management LLC owned 7.22% of Mirum Pharmaceuticals worth $134,369,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Mirum Pharmaceuticals by 37.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,597,506 shares of the company’s stock valued at $40,131,000 after buying an additional 432,824 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Mirum Pharmaceuticals by 165.5% in the 2nd quarter. Clearbridge Investments LLC now owns 699,933 shares of the company’s stock valued at $23,931,000 after purchasing an additional 436,349 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Mirum Pharmaceuticals by 8.1% during the 2nd quarter. William Blair Investment Management LLC now owns 677,939 shares of the company’s stock valued at $23,179,000 after purchasing an additional 50,667 shares during the last quarter. Candriam S.C.A. acquired a new position in Mirum Pharmaceuticals during the 2nd quarter worth approximately $17,384,000. Finally, Loomis Sayles & Co. L P acquired a new stake in Mirum Pharmaceuticals in the third quarter valued at approximately $19,473,000.

Mirum Pharmaceuticals Stock Up 3.3 %

NASDAQ:MIRM opened at $46.65 on Friday. Mirum Pharmaceuticals, Inc. has a 12 month low of $23.14 and a 12 month high of $48.89. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.15 and a current ratio of 3.34. The firm has a fifty day simple moving average of $40.79 and a two-hundred day simple moving average of $37.16.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. The business had revenue of $90.38 million for the quarter, compared to the consensus estimate of $81.99 million. During the same period in the prior year, the business earned ($0.57) EPS. The firm’s revenue for the quarter was up 89.4% on a year-over-year basis. As a group, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MIRM shares. Cantor Fitzgerald raised their price objective on Mirum Pharmaceuticals from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $66.00 target price on shares of Mirum Pharmaceuticals in a research report on Wednesday, November 13th. Leerink Partners upped their price target on shares of Mirum Pharmaceuticals from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Citigroup lifted their price target on shares of Mirum Pharmaceuticals from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Evercore ISI increased their price objective on Mirum Pharmaceuticals from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Mirum Pharmaceuticals currently has an average rating of “Buy” and an average target price of $57.73.

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 2,500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $47.10, for a total transaction of $117,750.00. Following the transaction, the senior vice president now directly owns 2,426 shares of the company’s stock, valued at $114,264.60. This trade represents a 50.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.87% of the stock is owned by company insiders.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.