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

Key Points

• Geode Capital Management increased its stake in Mirum Pharmaceuticals by 5.2% in the fourth quarter, bringing its holdings to 1,062,926 shares worth about $83.98 million.
• Mirum Pharmaceuticals reported strong revenue growth in its latest quarter, with revenue up 43.3% year over year to $159.88 million, though earnings missed expectations with a much larger-than-expected loss per share.
• Analyst sentiment remains positive overall, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and an average target price of $137.64.

Geode Capital Management LLC raised its stake in shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,062,926 shares of the company's stock after purchasing an additional 52,904 shares during the period. Geode Capital Management LLC owned 2.07% of Mirum Pharmaceuticals worth $83,975,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in Mirum Pharmaceuticals during the fourth quarter valued at approximately $30,000. MCF Advisors LLC grew its holdings in Mirum Pharmaceuticals by 76.4% during the third quarter. MCF Advisors LLC now owns 427 shares of the company's stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Quantbot Technologies LP acquired a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $33,000. Quarry LP acquired a new position in Mirum Pharmaceuticals during the third quarter valued at approximately $41,000. Finally, Comerica Bank grew its holdings in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after purchasing an additional 278 shares during the last quarter.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock opened at $93.48 on Monday. The stock has a market cap of $5.70 billion, a P/E ratio of -6.87 and a beta of 0.50. Mirum Pharmaceuticals, Inc. has a one year low of $45.17 and a one year high of $114.99. The stock has a fifty day moving average price of $97.29 and a 200 day moving average price of $90.37. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($13.43) EPS 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 firm's revenue for the quarter was up 43.3% compared to the same quarter last year. During the same period last year, the business earned ($0.30) earnings per share. Analysts predict that Mirum Pharmaceuticals, Inc. will post -2.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Christopher Peetz sold 30,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $95.84, for a total value of $2,875,200.00. Following the sale, the chief executive officer directly owned 194,309 shares in the company, valued at approximately $18,622,574.56. This represents a 13.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joanne Quan sold 7,287 shares of the company'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 $670,258.26. Following the completion of the sale, the insider owned 18,864 shares in the company, valued at approximately $1,735,110.72. This represents a 27.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 106,806 shares of company stock worth $9,939,816. Insiders own 8.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Robert W. Baird increased their price target on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Weiss Ratings cut Mirum Pharmaceuticals from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, May 22nd. Citizens Jmp reissued a "market outperform" rating and issued a $132.00 price objective on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. Stifel Nicolaus set a $136.00 price objective on Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Wall Street Zen cut Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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