Rhenman & Partners Asset Management AB Buys 50,000 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Rhenman & Partners Asset Management AB lifted its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 88.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 106,255 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Mirum Pharmaceuticals were worth $8,393,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $30,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $32,000. CIBC Private Wealth Group LLC bought a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at about $32,000. Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals in the third quarter valued at about $33,000. Finally, Comerica Bank lifted its stake in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after buying an additional 278 shares during the period.

Mirum Pharmaceuticals Stock Down 0.2%

Shares of MIRM opened at $99.35 on Friday. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -7.30 and a beta of 0.50. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals, Inc. has a 12 month low of $47.89 and a 12 month high of $114.99. The company has a 50-day moving average price of $97.89 and a two-hundred day moving average price of $91.13.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. During the same quarter in the prior year, the business earned ($0.30) EPS. The firm’s revenue for the quarter was up 43.3% on a year-over-year basis. Equities analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MIRM has been the subject of several research reports. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Wolfe Research assumed coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price target for the company. Citizens Jmp restated a “market outperform” rating and set a $132.00 price target on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 21st. Weiss Ratings upgraded shares of Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday. Finally, Citigroup assumed coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, June 2nd. They set a “buy” rating and a $145.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.36.

Insider Buying and Selling

In other news, SVP Jolanda Howe sold 4,732 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $435,249.36. Following the completion of the transaction, the senior vice president owned 8,429 shares in the company, valued at approximately $775,299.42. The trade was a 35.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Peetz sold 40,985 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the completion of the transaction, the chief executive officer owned 194,309 shares of the company’s stock, valued at $17,872,541.82. This trade represents a 17.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 111,806 shares of company stock valued at $10,408,916 in the last ninety days. 8.32% of the stock is owned by corporate insiders.

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.