ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Strategy lagged behind the benchmark in the quarter due to the decline in consumer staples and health care, which was somewhat offset by strength in financials and industrials. The Strategy posted gains in six of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Small Cap Growth Strategy featured stocks such as Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in the fourth quarter 2023 investor letter. Headquartered in Foster City, California, Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) is a biopharmaceutical company. On January 12, 2024, Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) stock closed at $27.29 per share. One-month return of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) was -21.87%, and its shares gained 24.05% of their value over the last 52 weeks. Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) has a market capitalization of $1.272 billion.
ClearBridge Small Cap Growth Strategy stated the following regarding Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) in its fourth quarter 2023 investor letter:
“In the fourth quarter we initiated four new investments: Inari Medical, Blackbaud, Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) and Installed Building Products. Mirum Pharmaceuticals is a commercial stage pharmaceutical company primarily treating rare liver conditions, often in pediatric patients. With multiple approved marketed products across different indications, the company is already operating near cash[1]flow breakeven. Mirum is pursuing label indication expansions across two of its marketed products that could be materially additive to the growth trajectory, along with two promising Phase 2 candidates designed to treat several adult rare liver diseases.”
A biopharmaceutical research laboratory filled with scientists, illuminated by the glow of their equipment.
Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) at the end of third quarter which was 23 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
