Legato Capital Management LLC Increases Holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)

Legato Capital Management LLC lifted its holdings in Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,395 shares of the company’s stock after acquiring an additional 977 shares during the period. Legato Capital Management LLC’s holdings in Mirum Pharmaceuticals were worth $554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MIRM. Allspring Global Investments Holdings LLC bought a new position in Mirum Pharmaceuticals in the 4th quarter worth approximately $413,000. Empowered Funds LLC purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth $1,376,000. Golden State Equity Partners boosted its position in shares of Mirum Pharmaceuticals by 1,390.8% during the fourth quarter. Golden State Equity Partners now owns 19,380 shares of the company’s stock worth $801,000 after acquiring an additional 18,080 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Mirum Pharmaceuticals by 10.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,179 shares of the company’s stock valued at $421,000 after acquiring an additional 1,003 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Mirum Pharmaceuticals in the 4th quarter valued at $69,000.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 7,489 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $42.82, for a total value of $320,678.98. Following the sale, the chief executive officer now owns 119,359 shares in the company, valued at $5,110,952.38. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jolanda Howe sold 750 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $42.82, for a total transaction of $32,115.00. Following the sale, the senior vice president now directly owns 2,926 shares of the company’s stock, valued at $125,291.32. This represents a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,915 shares of company stock valued at $1,897,920 over the last 90 days. Insiders own 22.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MIRM shares. Citigroup raised their price objective on Mirum Pharmaceuticals from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $66.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday, November 13th. Finally, Robert W. Baird upped their price objective on Mirum Pharmaceuticals from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $57.10.

Mirum Pharmaceuticals Stock Down 1.3 %

Shares of MIRM opened at $50.04 on Friday. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.33. The business has a fifty day moving average of $45.20 and a 200 day moving average of $42.59. The company has a market cap of $2.40 billion, a PE ratio of -24.77 and a beta of 0.96. Mirum Pharmaceuticals, Inc. has a 52-week low of $23.14 and a 52-week high of $53.49.

Mirum Pharmaceuticals (NASDAQ:MIRM) last released its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. The firm had revenue of $90.38 million during the quarter, compared to analyst estimates of $81.99 million. Mirum Pharmaceuticals had a negative net margin of 31.69% and a negative return on equity of 41.22%. The business’s revenue was up 89.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.57) EPS. On average, sell-side analysts expect that Mirum Pharmaceuticals, Inc. will post -1.44 EPS for the current year.

About Mirum Pharmaceuticals

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.