Rhenman & Partners Asset Management AB Cuts Stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Rhenman & Partners Asset Management AB cut its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 29.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,755 shares of the company’s stock after selling 31,245 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Mirum Pharmaceuticals were worth $3,050,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. lifted its position in shares of Mirum Pharmaceuticals by 1.2% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company’s stock worth $256,245,000 after purchasing an additional 75,000 shares during the period. State Street Corp raised its stake in Mirum Pharmaceuticals by 19.9% in the third quarter. State Street Corp now owns 1,793,728 shares of the company’s stock worth $69,955,000 after buying an additional 297,511 shares in the last quarter. Geode Capital Management LLC boosted its position in Mirum Pharmaceuticals by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 943,344 shares of the company’s stock valued at $39,016,000 after acquiring an additional 7,147 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Mirum Pharmaceuticals by 2.0% in the 4th quarter. Clearbridge Investments LLC now owns 907,317 shares of the company’s stock valued at $37,518,000 after acquiring an additional 18,217 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in shares of Mirum Pharmaceuticals in the 3rd quarter worth $28,913,000.

Mirum Pharmaceuticals Stock Down 2.8 %

MIRM stock opened at $42.03 on Friday. The stock has a market capitalization of $2.06 billion, a PE ratio of -20.81 and a beta of 1.00. Mirum Pharmaceuticals, Inc. has a 52 week low of $23.14 and a 52 week high of $54.23. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The firm has a 50 day moving average of $47.64 and a 200 day moving average of $43.95.

Mirum Pharmaceuticals (NASDAQ:MIRM) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The company had revenue of $99.41 million for the quarter, compared to analyst estimates of $96.64 million. Mirum Pharmaceuticals had a negative return on equity of 41.22% and a negative net margin of 31.69%. Sell-side analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Peetz sold 7,489 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $320,678.98. Following the completion of the transaction, the chief executive officer now directly owns 119,359 shares in the company, valued at $5,110,952.38. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Peter Radovich sold 2,627 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $48.22, for a total value of $126,673.94. Following the completion of the sale, the chief operating officer now owns 26,961 shares in the company, valued at approximately $1,300,059.42. This represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,679 shares of company stock valued at $6,007,081. 22.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright raised their price objective on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Robert W. Baird raised their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals has an average rating of “Buy” and a consensus target price of $58.20.

About Mirum Pharmaceuticals

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.