Why a Top Biotech Holder Sold 115,000 Mirum Shares but Still Ended Up With $185 Million on the Line

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30, the fund reported holding 2.52 million MIRM shares valued at about $184.92 million, making it the fund's second-largest holding.These 10 stocks could mint the next wave of millionaires ›On November 14, Boston-based Eventide Asset Management disclosed in a U.S. Securities and Exchange Commission filing that it sold 114,922 shares of Mirum (NASDAQ:MIRM). Nevertheless, the net position value actually increased by approximately $50.70 million.According to an SEC filing dated November 14, Eventide Asset Management, LLC reduced its stake in Mirum (NASDAQ:MIRM) by selling 114,922 shares since the previous quarter. The move brought the fund’s position to 2.52 million shares, or $184.92 million, as of September 30.Eventide sold shares, bringing Mirum to 3.04% of AUM and making it the fund’s second-largest equity holding. The position was previously about 2.4% of the fund's AUM as of the prior quarter.Top holdings after the filing:NASDAQ:GH: $207.51 million (3.4% of AUM)NASDAQ:MIRM: $184.92 million (3.0% of AUM)NASDAQ:XMTR: $169.87 million (2.8% of AUM)NYSE:TT: $168.00 million (2.8% of AUM)NASDAQ:INSM: $144.74 million (2.4% of AUM)As of Friday, shares of Mirum were priced at $79.26, up a staggering 89% over the past year and well outperforming the S&P 500, which is instead up about 15%.MetricValuePrice (as of Friday)$79.26Market Capitalization$4.10 billionRevenue (TTM)$471.79 millionNet Income (TTM)($41.42 million)Mirum's key products include LIVMARLI, an investigational oral therapy for rare liver diseases, and Volixibat, targeting additional rare hepatic conditions.The company generates revenue primarily through the development and commercialization of novel therapies for rare and orphan diseases, focusing on proprietary pharmaceutical products.Primary customers are healthcare providers and institutions treating patients with rare cholestatic liver diseases, including those with Alagille syndrome and progressive familial intrahepatic cholestasis.Mirum is a biopharmaceutical company specializing in therapies for debilitating rare and orphan diseases, with a focus on liver disorders. The company leverages its expertise in drug development to address significant unmet medical needs, driving growth through proprietary product commercialization. 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