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

Rhenman & Partners Asset Management AB reduced its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 29.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,755 shares of the company’s stock after selling 31,245 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.15% of Mirum Pharmaceuticals worth $3,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ExodusPoint Capital Management LP bought a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth $916,000. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 7,147 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Mirum Pharmaceuticals by 2.0% during the 4th quarter. Clearbridge Investments LLC now owns 907,317 shares of the company’s stock valued at $37,518,000 after purchasing an additional 18,217 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Mirum Pharmaceuticals by 15.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 578,024 shares of the company’s stock valued at $23,901,000 after purchasing an additional 78,708 shares in the last quarter. Finally, Congress Wealth Management LLC DE bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth about $414,000.

Analysts Set New Price Targets

A number of brokerages recently commented on MIRM. HC Wainwright increased their price target on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Robert W. Baird increased their target price on Mirum Pharmaceuticals from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $58.20.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CEO Christopher Peetz sold 7,489 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total transaction of $320,678.98. Following the completion of the sale, the chief executive officer now directly owns 119,359 shares in the company, valued at approximately $5,110,952.38. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joanne Quan sold 6,969 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $45.86, for a total transaction of $319,598.34. Following the completion of the transaction, the insider now owns 5,649 shares in the company, valued at approximately $259,063.14. The trade was a 55.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,679 shares of company stock worth $6,007,081 over the last 90 days. Company insiders own 22.87% of the company’s stock.

Mirum Pharmaceuticals Stock Down 2.8 %

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

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

Mirum Pharmaceuticals 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.