Legato Capital Management LLC Buys 9,557 Shares of Mirum Pharmaceuticals, Inc. $MIRM

Legato Capital Management LLC boosted its stake in 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 and Exchange Commission. The firm owned 44,124 shares of the company’s stock after purchasing an additional 9,557 shares during the period. Legato Capital Management LLC’s holdings in Mirum Pharmaceuticals were worth $3,485,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MIRM. Cullen Frost Bankers Inc. bought a new stake in Mirum Pharmaceuticals in the 4th quarter worth approximately $30,000. MCF Advisors LLC grew its position in Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company’s stock worth $31,000 after purchasing an additional 185 shares during the period. Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals in the 3rd quarter worth approximately $33,000. Comerica Bank grew its position in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares during the period. Finally, Quarry LP bought a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter valued at $41,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MIRM. Wall Street Zen downgraded shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Evercore reissued an “outperform” rating and set a $138.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Raymond James Financial reissued a “strong-buy” rating and set a $165.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. HC Wainwright set a $185.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Robert W. Baird boosted their price objective on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Mirum Pharmaceuticals has an average rating of “Buy” and a consensus target price of $137.08.

Mirum Pharmaceuticals Trading Down 2.0%

Shares of MIRM stock opened at $98.62 on Friday. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -7.25 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99. The firm has a fifty day moving average price of $96.20 and a 200-day moving average price of $88.41. Mirum Pharmaceuticals, Inc. has a 1 year low of $42.89 and a 1 year high of $114.99.

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

Insider Buying and Selling

In related news, SVP Jolanda Howe sold 4,732 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $435,249.36. Following the completion of the transaction, the senior vice president owned 8,429 shares of the company’s stock, valued at approximately $775,299.42. This represents a 35.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Peter Radovich sold 16,515 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $1,519,049.70. Following the completion of the transaction, the chief operating officer directly owned 40,272 shares of the company’s stock, valued at $3,704,218.56. This represents a 29.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 76,806 shares of company stock worth $7,064,616 in the last three months. Corporate insiders own 14.36% of the company’s stock.

Mirum Pharmaceuticals Profile

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.