Legato Capital Management LLC Grows Stock Holdings in Mirum Pharmaceuticals, Inc. $MIRM

Legato Capital Management LLC boosted its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 27.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,124 shares of the company’s stock after buying an additional 9,557 shares during the period. Legato Capital Management LLC owned approximately 0.09% of Mirum Pharmaceuticals worth $3,485,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Mirum Pharmaceuticals by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,596,089 shares of the company’s stock valued at $205,065,000 after buying an additional 50,720 shares during the last quarter. Wellington Management Group LLP raised its stake in Mirum Pharmaceuticals by 566.8% during the third quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock valued at $57,965,000 after buying an additional 672,118 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Mirum Pharmaceuticals by 709.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock valued at $44,889,000 after buying an additional 536,674 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Mirum Pharmaceuticals by 6.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 577,274 shares of the company’s stock valued at $45,599,000 after buying an additional 35,997 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Mirum Pharmaceuticals by 17.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 495,976 shares of the company’s stock valued at $36,360,000 after buying an additional 72,232 shares during the last quarter.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $98.62 on Friday. Mirum Pharmaceuticals, Inc. has a twelve month low of $42.89 and a twelve month high of $114.99. The firm has a market cap of $6.01 billion, a P/E ratio of -7.25 and a beta of 0.52. The company has a 50 day moving average of $96.20 and a 200 day moving average of $88.41. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The firm had revenue of $159.88 million during the quarter, compared to analysts’ expectations of $148.21 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. Mirum Pharmaceuticals’s revenue was up 43.3% on a year-over-year basis. As a group, research analysts expect that Mirum Pharmaceuticals, Inc. will post -2.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christopher Peetz sold 40,985 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $3,769,800.30. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares in the company, valued at $17,872,541.82. The trade was a 17.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jolanda Howe sold 4,732 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $435,249.36. Following the completion of the sale, the senior vice president directly owned 8,429 shares of the company’s stock, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 76,806 shares of company stock worth $7,064,616 over the last 90 days. 14.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MIRM has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Mirum Pharmaceuticals from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. TD Cowen lifted their price objective on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen cut Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Mirum Pharmaceuticals from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus set a $136.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $137.08.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.