Handelsbanken Fonder AB Purchases Shares of 213,500 Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Handelsbanken Fonder AB opened a new stake in Mirum Pharmaceuticals during the fourth quarter, buying 213,500 shares valued at about $16.9 million.
• Other institutions also moved into or added to the stock, including TimesSquare Capital Management, which increased its holding by 31.7%, and several funds that initiated new positions.
• Mirum reported revenue of $159.88 million for the quarter, beating expectations, but posted a much larger-than-expected loss of $13.43 per share; analysts still keep a Buy consensus with an average target price of $137.08.

Handelsbanken Fonder AB purchased a new stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 213,500 shares of the company's stock, valued at approximately $16,864,000. Handelsbanken Fonder AB owned about 0.42% of Mirum Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC increased its stake in Mirum Pharmaceuticals by 31.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 395,827 shares of the company's stock valued at $31,266,000 after purchasing an additional 95,178 shares during the last quarter. Profund Advisors LLC increased its stake in Mirum Pharmaceuticals by 257.6% in the fourth quarter. Profund Advisors LLC now owns 27,091 shares of the company's stock valued at $2,140,000 after purchasing an additional 19,515 shares during the last quarter. ProShare Advisors LLC increased its stake in Mirum Pharmaceuticals by 12.4% in the fourth quarter. ProShare Advisors LLC now owns 9,774 shares of the company's stock valued at $772,000 after purchasing an additional 1,082 shares during the last quarter. Dana Investment Advisors Inc. purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $482,000. Finally, Thrivent Financial for Lutherans purchased a new position in Mirum Pharmaceuticals in the fourth quarter valued at approximately $3,306,000.

Insider Buying and Selling at Mirum Pharmaceuticals

In other news, CFO Eric Bjerkholt sold 7,287 shares of the firm's 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 $670,258.26. Following the transaction, the chief financial officer directly owned 49,788 shares in the company, valued at approximately $4,579,500.24. This trade represents a 12.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Peter Radovich sold 16,515 shares of Mirum Pharmaceuticals stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $1,519,049.70. Following the completion of the transaction, the chief operating officer owned 40,272 shares in the company, valued at approximately $3,704,218.56. This trade represents a 29.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 76,806 shares of company stock valued at $7,064,616. 14.36% of the stock is owned by company insiders.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $96.95 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The firm has a market cap of $5.91 billion, a PE ratio of -7.12 and a beta of 0.52. The company's 50 day simple moving average is $95.87 and its 200-day simple moving average is $88.14. Mirum Pharmaceuticals, Inc. has a 12-month low of $42.89 and a 12-month high of $114.99.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($12.68). The business had revenue of $159.88 million for the quarter, compared to analysts' expectations of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business's revenue was up 43.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) earnings per share. As a group, equities analysts predict that Mirum Pharmaceuticals, Inc. will post -2.24 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on MIRM shares. Stifel Nicolaus set a $136.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Leerink Partners dropped their price target on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. Weiss Ratings upgraded shares of Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, May 7th. HC Wainwright set a $185.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Finally, Morgan Stanley raised their target price on shares of Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Mirum Pharmaceuticals has a consensus rating of "Buy" and an average target price of $137.08.

Mirum Pharmaceuticals 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.

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