Rhenman & Partners Asset Management AB Has $8.39 Million Stock Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Key Points

• Rhenman & Partners Asset Management AB increased its stake in Mirum Pharmaceuticals by 88.9% in the fourth quarter, bringing its holdings to 106,255 shares worth about $8.39 million.
• Mirum reported strong revenue growth in its latest quarter, with sales of $159.88 million, up 43.3% year over year, though it posted a much wider-than-expected EPS loss of $13.43.
• Wall Street remains broadly positive on the stock: analysts have a Moderate Buy consensus with an average price target of $138.36, despite recent insider selling and the company’s continued losses.

Rhenman & Partners Asset Management AB lifted its stake in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 88.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,255 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Rhenman & Partners Asset Management AB owned approximately 0.21% of Mirum Pharmaceuticals worth $8,393,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC increased its position in Mirum Pharmaceuticals by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company's stock worth $253,000 after buying an additional 200 shares during the last quarter. Jones Financial Companies Lllp increased its position in Mirum Pharmaceuticals by 34.0% during the third quarter. Jones Financial Companies Lllp now owns 957 shares of the company's stock worth $70,000 after buying an additional 243 shares during the last quarter. Comerica Bank increased its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after buying an additional 278 shares during the last quarter. Osaic Holdings Inc. increased its position in Mirum Pharmaceuticals by 46.5% during the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company's stock worth $56,000 after buying an additional 351 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth $30,000.

Mirum Pharmaceuticals Stock Performance

MIRM opened at $99.35 on Friday. The firm has a market capitalization of $6.06 billion, a P/E ratio of -7.30 and a beta of 0.50. The stock's 50 day moving average price is $97.89 and its two-hundred day moving average price is $91.13. 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.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $148.21 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The business's quarterly revenue was up 43.3% compared to the same quarter last year. During the same period last year, the business earned ($0.30) EPS. On average, equities analysts forecast that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 16,515 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $1,519,049.70. Following the sale, the chief operating officer owned 40,272 shares of the company's stock, valued at $3,704,218.56. This trade represents a 29.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jolanda Howe sold 4,732 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 value of $435,249.36. Following the completion of the sale, the senior vice president directly owned 8,429 shares in the company, valued at $775,299.42. This trade represents a 35.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 111,806 shares of company stock worth $10,408,916. Insiders own 8.32% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on MIRM. Stifel Nicolaus set a $136.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. TD Cowen increased their target price on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Leerink Partners lowered their target price on shares of Mirum Pharmaceuticals from $120.00 to $118.00 and set an "outperform" rating on the stock in a research report on Thursday, February 26th. Wolfe Research began coverage on shares of Mirum Pharmaceuticals in a research report on Tuesday, May 19th. They set an "outperform" rating and a $145.00 target price on the stock. Finally, Citizens Jmp reissued a "market outperform" rating and set a $132.00 target price on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $138.36.

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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