Larimar Therapeutics (NASDAQ:LRMR) Trading Up 6%

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) were up 6% on Monday . The stock traded as high as $8.31 and last traded at $8.24. Approximately 205,198 shares changed hands during trading, a decline of 61% from the average daily volume of 529,715 shares. The stock had previously closed at $7.77.

Wall Street Analyst Weigh In

LRMR has been the subject of several recent research reports. Leerink Partnrs reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Wednesday, April 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price objective on shares of Larimar Therapeutics in a research note on Friday, March 15th. SVB Leerink started coverage on shares of Larimar Therapeutics in a research report on Wednesday, April 3rd. They issued an “outperform” rating and a $25.00 target price on the stock. Citigroup upped their price target on shares of Larimar Therapeutics from $4.50 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, Lifesci Capital reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.50.

Larimar Therapeutics Stock Up 6.1 %

The stock has a market capitalization of $525.71 million, a PE ratio of -9.69 and a beta of 0.96. The stock’s 50-day moving average is $8.25 and its 200 day moving average is $6.04.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, equities research analysts forecast that Larimar Therapeutics, Inc. will post -1.24 EPS for the current year.

Insider Activity at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn bought 4,290,617 shares of Larimar Therapeutics stock in a transaction on Friday, February 16th. The stock was purchased at an average cost of $8.74 per share, for a total transaction of $37,499,992.58. Following the completion of the purchase, the director now directly owns 6,151,406 shares of the company’s stock, valued at $53,763,288.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of Larimar Therapeutics during the 1st quarter worth about $4,829,000. SG Americas Securities LLC lifted its holdings in shares of Larimar Therapeutics by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock worth $64,000 after buying an additional 3,039 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Larimar Therapeutics by 80.6% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,176,680 shares of the company’s stock valued at $4,648,000 after acquiring an additional 525,000 shares during the period. Fred Alger Management LLC grew its stake in shares of Larimar Therapeutics by 22.5% in the third quarter. Fred Alger Management LLC now owns 116,269 shares of the company’s stock worth $459,000 after acquiring an additional 21,331 shares during the last quarter. Finally, Pale Fire Capital SE bought a new position in Larimar Therapeutics during the third quarter worth $48,000. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Company Profile

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare diseases using its novel cell penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in Phase 2 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease.