Larimar Therapeutics (NASDAQ:LRMR) Upgraded to “Strong-Buy” at Lifesci Capital

Larimar Therapeutics (NASDAQ:LRMR) was upgraded by equities research analysts at Lifesci Capital to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on LRMR. Leerink Partners upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $16.50.

Larimar Therapeutics Stock Up 31.3%

Shares of NASDAQ:LRMR opened at $3.69 on Tuesday. The company has a market cap of $305.45 million, a price-to-earnings ratio of -1.91 and a beta of 1.01. The business has a 50 day moving average price of $3.44 and a 200 day moving average price of $3.76. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $5.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LRMR. CWM LLC boosted its stake in Larimar Therapeutics by 10.3% during the third quarter. CWM LLC now owns 36,013 shares of the company’s stock worth $116,000 after buying an additional 3,361 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Larimar Therapeutics by 75.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after buying an additional 4,376 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Larimar Therapeutics by 33.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock worth $59,000 after acquiring an additional 4,619 shares during the period. Velan Capital Investment Management LP boosted its position in shares of Larimar Therapeutics by 17.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock valued at $95,000 after acquiring an additional 5,000 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Larimar Therapeutics by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after acquiring an additional 5,001 shares in the last quarter. 91.92% of the stock is owned by institutional investors.

About Larimar Therapeutics

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.