Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Update

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,310,000 shares, an increase of 21.7% from the October 31st total of 2,720,000 shares. Based on an average daily volume of 719,700 shares, the days-to-cover ratio is currently 4.6 days.

Institutional Trading of Larimar Therapeutics

Large investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in shares of Larimar Therapeutics by 21.9% in the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock valued at $143,000 after buying an additional 3,549 shares during the period. Virtu Financial LLC bought a new stake in Larimar Therapeutics in the 3rd quarter valued at $71,000. Barclays PLC boosted its stake in Larimar Therapeutics by 321.2% in the 3rd quarter. Barclays PLC now owns 60,032 shares of the company’s stock worth $393,000 after purchasing an additional 45,781 shares during the period. XTX Topco Ltd bought a new position in Larimar Therapeutics during the 3rd quarter worth about $100,000. Finally, Jane Street Group LLC raised its stake in shares of Larimar Therapeutics by 80.1% in the 3rd quarter. Jane Street Group LLC now owns 113,783 shares of the company’s stock valued at $745,000 after purchasing an additional 50,622 shares during the period. 91.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on LRMR shares. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Wedbush started coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective on the stock. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Larimar Therapeutics in a research note on Monday, November 18th. Finally, Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Larimar Therapeutics has a consensus rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Stock Down 4.7 %

Shares of LRMR stock opened at $6.33 on Monday. The firm has a market capitalization of $403.92 million, a price-to-earnings ratio of -5.50 and a beta of 0.86. Larimar Therapeutics has a 12-month low of $3.27 and a 12-month high of $13.68. The firm has a fifty day moving average of $7.20 and a 200-day moving average of $7.82.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same period in the prior year, the company earned ($0.21) earnings per share. Research analysts expect that Larimar Therapeutics will post -1.16 earnings per share for the current year.

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.