Rhenman & Partners Asset Management AB Has $3.05 Million Stock Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Rhenman & Partners Asset Management AB trimmed its position in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 29.8% in the 4th quarter, according to its most recent disclosure with the 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 approximately 0.15% of Mirum Pharmaceuticals worth $3,050,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. increased its stake in Mirum Pharmaceuticals by 1.2% during the third quarter. Frazier Life Sciences Management L.P. now owns 6,570,392 shares of the company's stock worth $256,245,000 after acquiring an additional 75,000 shares during the last quarter. State Street Corp increased its stake in shares of Mirum Pharmaceuticals by 19.9% during 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 during the period. Geode Capital Management LLC lifted its position 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 worth $39,016,000 after purchasing an additional 7,147 shares during the last quarter. Clearbridge Investments LLC boosted its position 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 worth $37,518,000 after acquiring an additional 18,217 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $28,913,000.

Analysts Set New Price Targets

MIRM has been the topic of a number of research reports. HC Wainwright raised their price target on Mirum Pharmaceuticals from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Robert W. Baird lifted their price target on shares of Mirum Pharmaceuticals from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $58.20.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 3,177 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $47.92, for a total transaction of $152,241.84. Following the sale, the chief operating officer now owns 29,588 shares of the company's stock, valued at $1,417,856.96. This represents a 9.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joanne Quan sold 6,969 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $45.86, for a total transaction of $319,598.34. Following the transaction, the insider now owns 5,649 shares in the company, valued at $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 123,442 shares of company stock worth $5,568,733 in the last quarter. 22.87% of the stock is owned by corporate insiders.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM traded down $3.11 during mid-day trading on Thursday, reaching $38.36. 176,961 shares of the company traded hands, compared to its average volume of 520,404. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.34 and a quick ratio of 3.15. The stock has a fifty day simple moving average of $46.83 and a 200-day simple moving average of $44.00. Mirum Pharmaceuticals, Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $54.23. The firm has a market cap of $1.88 billion, a PE ratio of -18.99 and a beta of 1.00.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.22). Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The company had revenue of $99.41 million for the quarter, compared to analyst estimates of $96.64 million. Equities research analysts anticipate that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current fiscal 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.