Ikarian Capital LLC Trims Stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Ikarian Capital LLC trimmed its holdings in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 81.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,528 shares of the company’s stock after selling 265,000 shares during the quarter. Ikarian Capital LLC’s holdings in Larimar Therapeutics were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its position in Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after buying an additional 7,250 shares in the last quarter. Quest Partners LLC grew its position in Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after buying an additional 5,796 shares in the last quarter. Intech Investment Management LLC bought a new stake in Larimar Therapeutics during the third quarter worth about $85,000. Thoroughbred Financial Services LLC bought a new stake in Larimar Therapeutics during the second quarter worth about $94,000. Finally, SG Americas Securities LLC bought a new stake in Larimar Therapeutics during the third quarter worth about $94,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Down 2.1 %

LRMR traded down $0.13 during midday trading on Tuesday, reaching $6.20. 6,552 shares of the company’s stock traded hands, compared to its average volume of 583,652. The firm has a fifty day moving average of $7.20 and a two-hundred day moving average of $7.82. Larimar Therapeutics, Inc. has a 52 week low of $3.34 and a 52 week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period in the prior year, the business posted ($0.21) EPS. Analysts predict that Larimar Therapeutics, Inc. will post -1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LRMR. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a research note on Monday, November 18th. Oppenheimer assumed coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price for the company. Wedbush assumed coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price for the company. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Finally, Robert W. Baird assumed coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price for the company. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Larimar Therapeutics currently has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics 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.