Verition Fund Management LLC Decreases Position in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Verition Fund Management LLC lowered its position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 27.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,161,750 shares of the company’s stock after selling 432,400 shares during the quarter. Verition Fund Management LLC owned 1.82% of Larimar Therapeutics worth $7,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LRMR. Quest Partners LLC increased its holdings in Larimar Therapeutics by 171.1% during the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after acquiring an additional 5,796 shares in the last quarter. Quarry LP increased its stake in shares of Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after purchasing an additional 7,250 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Larimar Therapeutics during the 3rd quarter worth approximately $85,000. Thoroughbred Financial Services LLC purchased a new stake in Larimar Therapeutics in the 2nd quarter valued at approximately $94,000. Finally, SG Americas Securities LLC acquired a new stake in Larimar Therapeutics during the 3rd quarter valued at $94,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on LRMR. Robert W. Baird began coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a research note on Monday, November 18th. Wedbush assumed coverage on shares of 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, Baird R W raised 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 issued a strong buy rating to the stock. According to MarketBeat, Larimar Therapeutics has a consensus rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Price Performance

LRMR opened at $6.33 on Monday. Larimar Therapeutics, Inc. has a 1 year low of $3.27 and a 1 year high of $13.68. The firm has a 50 day moving average price of $7.20 and a 200 day moving average price of $7.82.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter in the previous year, the company earned ($0.21) earnings per share. As a group, analysts forecast that Larimar Therapeutics, Inc. will post -1.16 earnings per share for the current fiscal year.

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.