Larimar Therapeutics (NASDAQ:LRMR) Stock Price Up 6%

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LRMR shares. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a research note on Friday, March 15th. Citigroup boosted their price target on shares of Larimar Therapeutics from $4.50 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Lifesci Capital reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research note on Wednesday, April 3rd. Finally, 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 price target for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.50.

Larimar Therapeutics Stock Up 6.1 %

The company’s fifty day moving average is $8.25 and its two-hundred day moving average is $6.04. The stock has a market cap of $525.71 million, a price-to-earnings ratio of -9.69 and a beta of 0.96.

Larimar Therapeutics (NASDAQ:LRMR) last released 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). Sell-side analysts predict that Larimar Therapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Insider Transactions at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn bought 4,290,617 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were acquired at an average price of $8.74 per share, with a total value of $37,499,992.58. Following the transaction, the director now owns 6,151,406 shares of the company’s stock, valued at $53,763,288.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Larimar Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. increased its holdings in shares of Larimar Therapeutics by 80.6% in the 3rd 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. SG Americas Securities LLC purchased a new stake in shares of Larimar Therapeutics in the third quarter valued at about $44,000. Fred Alger Management LLC boosted its stake in shares of Larimar Therapeutics by 22.5% during the third quarter. Fred Alger Management LLC now owns 116,269 shares of the company’s stock worth $459,000 after buying an additional 21,331 shares during the period. Pale Fire Capital SE purchased a new position in shares of Larimar Therapeutics during the third quarter worth about $48,000. Finally, Assenagon Asset Management S.A. acquired a new position in Larimar Therapeutics in the 1st quarter valued at about $4,829,000. 91.92% of the stock is owned by hedge funds and other 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.