Larimar Therapeutics (NASDAQ:LRMR) Stock Price Up 3.2%

Larimar Therapeutics, Inc. (NASDAQ:LRMR) traded up 3.2% on Wednesday . The stock traded as high as $9.75 and last traded at $9.73. 46,589 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 567,497 shares. The stock had previously closed at $9.43.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a report on Friday, May 31st. SVB Leerink initiated coverage on Larimar Therapeutics in a report on Wednesday, April 3rd. They set an “outperform” rating and a $25.00 price target for the company. Citigroup boosted their price target on Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Wednesday, April 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and a consensus price target of $21.33.

Larimar Therapeutics Trading Down 0.7 %

The business has a fifty day moving average price of $8.51 and a 200 day moving average price of $8.00.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). Research analysts expect that Larimar Therapeutics, Inc. will post -1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of LRMR. SG Americas Securities LLC grew its position in Larimar Therapeutics by 27.3% during the 4th quarter. SG Americas Securities LLC now owns 14,159 shares of the company’s stock worth $64,000 after acquiring an additional 3,039 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Larimar Therapeutics during the 1st quarter worth $106,000. Virtu Financial LLC bought a new stake in Larimar Therapeutics during the 1st quarter worth $133,000. Bank of New York Mellon Corp grew its position in Larimar Therapeutics by 57.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock worth $978,000 after acquiring an additional 49,102 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Larimar Therapeutics during the 1st quarter worth $4,829,000. Institutional investors own 91.92% of the company’s stock.

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.