Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Up 21.7% in November

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the target of a large increase in short interest in 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 short-interest ratio is presently 4.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LRMR. Janus Henderson Group PLC increased its position in Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after buying an additional 1,189,467 shares during the period. Vanguard Group Inc. increased its position in Larimar Therapeutics by 62.7% during the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after buying an additional 912,458 shares during the period. Millennium Management LLC increased its position in Larimar Therapeutics by 30.2% during the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after buying an additional 235,865 shares during the period. Driehaus Capital Management LLC increased its position in Larimar Therapeutics by 20.8% during the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after buying an additional 225,879 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Larimar Therapeutics by 37.7% during the second quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock worth $4,376,000 after buying an additional 165,181 shares during the period. Institutional investors and hedge funds own 91.92% of the company’s stock.

Analyst Ratings Changes

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. Robert W. Baird started coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price for the company. Oppenheimer started coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price for the company. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Wedbush initiated coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target for the company. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Stock Performance

LRMR stock traded up $0.15 during mid-day trading on Monday, reaching $6.48. The company had a trading volume of 67,885 shares, compared to its average volume of 583,546. The company has a market capitalization of $413.49 million, a price-to-earnings ratio of -5.50 and a beta of 0.86. The firm has a fifty day simple moving average of $7.20 and a 200 day simple moving average of $7.82. Larimar Therapeutics has a fifty-two week low of $3.34 and a fifty-two week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the business posted ($0.21) earnings per share. As a group, analysts predict 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.