Brokerages Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $20.13

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given a consensus recommendation of “Buy” by the eleven brokerages that are presently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $20.13.

Several research firms recently commented on LRMR. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Truist Financial started coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a research note on Friday, January 24th.

Larimar Therapeutics Trading Up 3.8 %

Shares of NASDAQ:LRMR opened at $3.03 on Wednesday. Larimar Therapeutics has a twelve month low of $2.86 and a twelve month high of $11.97. The firm has a market cap of $193.34 million, a P/E ratio of -2.63 and a beta of 0.91. The company has a 50 day moving average of $3.54 and a 200-day moving average of $5.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Larimar Therapeutics in the 3rd quarter valued at $94,000. GSA Capital Partners LLP increased its position in shares of Larimar Therapeutics by 108.9% during the 3rd quarter. GSA Capital Partners LLP now owns 107,408 shares of the company’s stock worth $704,000 after purchasing an additional 55,984 shares in the last quarter. Quest Partners LLC increased its position in shares of Larimar Therapeutics by 171.1% during the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after purchasing an additional 5,796 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Larimar Therapeutics during the 3rd quarter worth about $85,000. Finally, Janus Henderson Group PLC increased its position in Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after acquiring an additional 1,189,467 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.