Boston-based Eventide Asset Management sold 114,922 shares of Mirum Pharmaceuticals during the third quarter, increasing the overall position value by $50.70 million due to a stock price surge. The fund reported holding 2.52 million MIRM shares valued at $184.92 million, making it the second-largest holding.

As of November 14, Eventide Asset Management disclosed selling 114,922 Mirum shares, increasing the net position value by approximately $50.70 million. The fund now holds 2.52 million shares valued at $184.92 million, reducing Mirum to 3.04% of AUM and the second-largest equity holding.

Shares of Mirum were priced at $79.26 as of Friday, up 89% over the past year, outperforming the S&P 500. Mirum’s key products include LIVMARLI and Volixibat for rare liver diseases, generating revenue primarily from the development and commercialization of novel therapies.

Mirum, a biopharmaceutical company, focuses on liver disorders with proprietary pharmaceutical products. Its revenue growth is driven by therapies for rare and orphan diseases, targeting healthcare providers treating patients with cholestatic liver diseases. The company emphasizes serving underserved patient populations with high-value treatments.

For long-term investors, Eventide’s share sale signals a strategic position growth despite the stock price surge. Mirum posted third-quarter revenue of $133 million, raised full-year guidance, and maintained strong sales in LIVMARLI. The company’s cash and investments reached $378 million, supporting pipeline readouts without dilution pressure.

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Read more at Yahoo Finance: Why a Top Biotech Holder Sold 115,000 Mirum Shares but Still Ended Up With $185 Million on the Line