Larimar Therapeutics (NASDAQ:LRMR) Upgraded at Truist Financial

Truist Financial upgraded shares of Larimar Therapeutics (NASDAQ:LRMR) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

LRMR has been the subject of a number of other research reports. Lifesci Capital upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Wedbush increased their target price on Larimar Therapeutics from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, March 20th. Leerink Partners upgraded Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Citigroup boosted their price target on Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $16.50.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock opened at $4.62 on Wednesday. The firm has a market capitalization of $479.93 million, a PE ratio of -2.09 and a beta of 0.91. The company’s fifty day moving average price is $4.09 and its two-hundred day moving average price is $3.95. Larimar Therapeutics has a 52-week low of $1.61 and a 52-week high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.30). Analysts predict that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Larimar Therapeutics

In other news, Director James E. Flynn bought 5,000,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director owned 10,622,957 shares of the company’s stock, valued at approximately $53,114,785. The trade was a 88.92% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC acquired a new position in Larimar Therapeutics in the third quarter worth $3,230,000. Blue Owl Capital Holdings LP increased its stake in shares of Larimar Therapeutics by 18.8% in the third quarter. Blue Owl Capital Holdings LP now owns 5,853,040 shares of the company’s stock valued at $18,905,000 after buying an additional 925,000 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of Larimar Therapeutics in the third quarter valued at $412,000. XTX Topco Ltd bought a new position in shares of Larimar Therapeutics in the second quarter valued at about $484,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Larimar Therapeutics by 70.6% in the second quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 307,198 shares of the company’s stock valued at $888,000 after buying an additional 127,171 shares during the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

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