Fintel reports that New Enterprise Associates 16 has filed a 13D/A form with the SEC disclosing ownership of 2.19MM shares of Mirum Pharmaceuticals Inc (MIRM). This represents 5.8% of the company.

In their previous filing dated July 30, 2019 they reported 4.19MM shares and 18.20% of the company, a decrease in shares of 47.78% and a decrease in total ownership of 12.40% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 83.48% Upside

As of June 2, 2023, the average one-year price target for Mirum Pharmaceuticals is 52.40. The forecasts range from a low of 30.30 to a high of $85.05. The average price target represents an increase of 83.48% from its latest reported closing price of 28.56.

The projected annual revenue for Mirum Pharmaceuticals is 147MM, an increase of 53.91%. The projected annual non-GAAP EPS is -2.94.

What is the Fund Sentiment?

There are 242 funds or institutions reporting positions in Mirum Pharmaceuticals. This is a decrease of 7 owner(s) or 2.81% in the last quarter. Average portfolio weight of all funds dedicated to MIRM is 0.41%, an increase of 30.01%. Total shares owned by institutions decreased in the last three months by 1.29% to 37,687K shares. The put/call ratio of MIRM is 0.34, indicating a bullish outlook.

What are Other Shareholders Doing?

NEA Management Company holds 4,186K shares representing 11.01% ownership of the company. No change in the last quarter.

Frazier Life Sciences Management holds 3,860K shares representing 10.15% ownership of the company. No change in the last quarter.

Eventide Asset Management holds 2,059K shares representing 5.41% ownership of the company. In it’s prior filing, the firm reported owning 2,057K shares, representing an increase of 0.11%. The firm increased its portfolio allocation in MIRM by 14.73% over the last quarter.

ETAHX – Eventide Healthcare & Life Sciences Fund Shares holds 2,059K shares representing 5.41% ownership of the company. In it’s prior filing, the firm reported owning 2,057K shares, representing an increase of 0.11%. The firm increased its portfolio allocation in MIRM by 25.15% over the last quarter.

Deerfield Management Company, L.p. holds 2,032K shares representing 5.34% ownership of the company. No change in the last quarter.

Mirum Pharmaceuticals Background Information
(This description is provided by the company.)

Mirum Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. Mirum’s lead product candidate, maralixibat, is an investigational oral drug in development for Alagille syndrome (ALGS), progressive familial intrahepatic cholestasis (PFIC), and biliary atresia. Mirum has submitted an NDA for maralixibat in the treatment of cholestatic pruritus in patients with ALGS. Additionally, Mirum’s marketing authorization application for the treatment of pediatric patients with PFIC2 has been accepted for review (validated) by the European Medicines Agency.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.