What smart money is saying about Mirum Pharmaceuticals
2 funds in our archive have pitched Mirum Pharmaceuticals, most recently TimesSquare U.S. Small Cap Growth in September 2026.
Mirum Pharmaceuticals, Inc. is a biopharmaceutical firm dedicated to discovering and commercializing groundbreaking therapies for serious rare and orphan conditions. Its lead experimental drug, LIVMARLI, an oral treatment, is currently undergoing trials for progressive familial intrahepatic cholestasis (PFIC), Alagille syndrome, and biliary atresia. Furthermore, the company is advancing Volixibat to address intrahepatic cholestasis of pregnancy and primary sclerosing cholangitis. Founded in 2018, Mirum Pharmaceuticals, Inc. operates from its headquarters in Foster City, California.
Get an email when a fund buys, sells or pitches it
Position history
Between Q3 2025 and Q3 2026, 5 fund letters reported a position in Mirum Pharmaceuticals, with 3 buys (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 1 | 0 | 2 |
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q3 2025 | 2 | 2 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 5 positions · 4 moves
- September 2026
“Mirum Pharmaceuticals Return: −27% · Average Weight: 2% · Active Contribution: −59 bps MIRM is a commercial-stage biopharma developer of liver disease treatments. Shares fell after the FDA unexpectedly recommended a Phase 3 study for volixibat in primary sclerosing cholangitis (PSC), a rare chronic liver disease affecting the bile ducts. That pushed the expected regulatory filing in PSC to the first half of 2027 from the second half of 2026. We note MIRM’s presentation of a volixibat study in May was met with extreme enthusiasm by hepatologists, given the absence of an approved therapeutic option, and MIRM continues to work with the FDA on an accelerated path. We viewed the price reaction as extreme, especially because MIRM’s commercial business continues to grow and this should be a temporary delay, so we added to our position.”
Mirum Pharmaceuticals - September 2026
“Mirum Pharmaceuticals Return: -27% · Avg. Weight: 2% · Total Effect: -30 bps MIRM is a commercial-stage biopharma developer of liver disease treatments. Shares fell after the FDA unexpectedly recommended a Phase 3 study for volixibat in primary sclerosing cholangitis (PSC), a rare chronic liver disease affecting the bile ducts. That pushed the expected regulatory filing in PSC to the first half of 2027 from the second half of 2026. We note MIRM’s presentation of a volixibat study in May was met with extreme enthusiasm by hepatologsists, given the absence of an approved therapeutic option, and MIRM continues to work with the FDA on an accelerated path. We viewed the price reaction as extreme, especially because MIRM’s commercial business continues to grow and this should be a temporary delay, so we added to our position.”
Mirum Pharmaceuticals - June 2026
“Mirum Pharmaceuticals underlying common stock continued to reach new highs during the quarter, driving the company’s convertible bonds higher as well.”
Mirum Pharmaceuticals - September 2025
“o two in health care: Mirum Pharmaceuticals, ADMA Biologics”
Mirum Pharmaceuticals - New positionTimessquare US Small Cap Growth StrategySeptember 2025
“New to the strategy this quarter was Mirum Pharmaceuticals, a commercial-stage biopharma developer of liver disease treatments.”
Mirum Pharmaceuticals
Also mentioned · 1
These funds discuss Mirum Pharmaceuticals as a competitor, benchmark or comparable, without disclosing a position in it.
- March 2026
“Mirum Pharmaceuticals Inc. is a biopharmaceutical company focused on developing novel therapies for liver disease.”
Mirum Pharmaceuticals
Fund coverage · 2 theses
- TimesSquare U.S. Small Cap GrowthSeptember 2026
Mirum Pharmaceuticals develops liver disease treatments, and the investment case is supported by commercial growth and a potentially valuable PSC therapy despite a regulatory delay.
Read the full thesis - AMG TimesSquare Small Cap Growth FundSeptember 2026
Mirum Pharmaceuticals develops liver disease therapies and retains a compelling opportunity despite a regulatory delay because its commercial business is still growing.
Read the full thesis
Read every full thesis on Mirum Pharmaceuticals
Read all 2 theses in full, with each fund's reasoning, and get unlimited access to the archive.
View plans→