Geode Capital Management LLC Has $83.98 Million Position in Mirum Pharmaceuticals, Inc. $MIRM

Geode Capital Management LLC boosted its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,062,926 shares of the company’s stock after purchasing an additional 52,904 shares during the quarter. Geode Capital Management LLC’s holdings in Mirum Pharmaceuticals were worth $83,975,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at $1,113,000. Legal & General Group Plc increased its stake in shares of Mirum Pharmaceuticals by 0.7% in the fourth quarter. Legal & General Group Plc now owns 168,393 shares of the company’s stock valued at $13,301,000 after buying an additional 1,163 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Mirum Pharmaceuticals by 7.5% in the fourth quarter. William Blair Investment Management LLC now owns 336,701 shares of the company’s stock valued at $26,596,000 after buying an additional 23,442 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Mirum Pharmaceuticals in the fourth quarter valued at $229,000. Finally, Legato Capital Management LLC increased its stake in shares of Mirum Pharmaceuticals by 27.6% in the fourth quarter. Legato Capital Management LLC now owns 44,124 shares of the company’s stock valued at $3,485,000 after buying an additional 9,557 shares in the last quarter.

Insider Activity

In other Mirum Pharmaceuticals news, COO Peter Radovich sold 16,515 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer owned 40,272 shares in the company, valued at approximately $3,704,218.56. This trade represents a 29.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jolanda Howe sold 4,732 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $435,249.36. Following the transaction, the senior vice president owned 8,429 shares in the company, valued at approximately $775,299.42. This trade represents a 35.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 106,806 shares of company stock valued at $9,939,816. Insiders own 8.32% of the company’s stock.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $93.48 on Monday. The stock has a 50-day moving average price of $97.29 and a 200 day moving average price of $90.37. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of -6.87 and a beta of 0.50. Mirum Pharmaceuticals, Inc. has a 12 month low of $45.17 and a 12 month 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 (EPS) 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 company had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. During the same quarter last year, the business posted ($0.30) EPS. Mirum Pharmaceuticals’s quarterly revenue was up 43.3% on a year-over-year basis. Research analysts expect that Mirum Pharmaceuticals, Inc. will post -2.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MIRM. Leerink Partners lowered their target price on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Evercore restated an “outperform” rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Citigroup started coverage on Mirum Pharmaceuticals in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $145.00 target price for the company. Weiss Ratings lowered Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $132.00 price objective on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.64.

Mirum Pharmaceuticals Company 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.