Larimar Therapeutics (NASDAQ:LRMR) Sees Unusually-High Trading Volume

Larimar Therapeutics, Inc. (NASDAQ:LRMR) shares saw strong trading volume on Wednesday . 630,361 shares changed hands during mid-day trading, an increase of 18% from the previous session’s volume of 535,874 shares.The stock last traded at $8.50 and had previously closed at $7.89.

Analyst Ratings Changes

LRMR has been the subject of several recent analyst reports. SVB Leerink initiated coverage on Larimar Therapeutics in a research note on Wednesday, April 3rd. They issued an “outperform” rating and a $25.00 price target for the company. Lifesci Capital restated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. Citigroup lifted their price target on Larimar Therapeutics from $4.50 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. JMP Securities restated a “market outperform” rating and issued a $25.00 price target on shares of Larimar Therapeutics in a research note on Tuesday. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Wednesday, April 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and a consensus price target of $20.00.

Larimar Therapeutics Stock Up 2.4 %

The stock has a market cap of $515.50 million, a PE ratio of -8.69 and a beta of 0.96. The firm has a fifty day moving average of $7.47 and a 200 day moving average of $6.45.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). On average, equities research analysts forecast that Larimar Therapeutics, Inc. will post -1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds have recently added to or reduced their stakes in LRMR. Virtu Financial LLC acquired a new stake in shares of Larimar Therapeutics during the 1st quarter valued at approximately $133,000. RA Capital Management L.P. acquired a new stake in shares of Larimar Therapeutics during the 1st quarter valued at approximately $45,884,000. Janus Henderson Group PLC lifted its position in shares of Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after acquiring an additional 1,379,900 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Larimar Therapeutics during the 1st quarter valued at approximately $106,000. Finally, Vanguard Group Inc. lifted its position in shares of Larimar Therapeutics by 62.7% during the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after acquiring an additional 912,458 shares during the period. Institutional investors and hedge funds 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.