Larimar Therapeutics (NASDAQ:LRMR) Stock Price Up 8.4%

Larimar Therapeutics, Inc. (NASDAQ:LRMR) shot up 8.4% on Monday . The stock traded as high as $7.95 and last traded at $7.86. 186,906 shares were traded during trading, a decline of 67% from the average session volume of 569,049 shares. The stock had previously closed at $7.25.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Leerink Partnrs restated an “outperform” rating on shares of Larimar Therapeutics in a report on Wednesday, April 3rd. SVB Leerink initiated coverage on Larimar Therapeutics in a research note on Wednesday, April 3rd. They set an “outperform” rating and a $25.00 price target on the stock. Citigroup raised their target price on shares of Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $25.00 price target on shares of Larimar Therapeutics in a research report on Friday, May 31st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and an average price target of $21.33.

Larimar Therapeutics Trading Up 11.0 %

The company has a market cap of $513.59 million, a price-to-earnings ratio of -7.94 and a beta of 1.01. The company’s 50 day moving average price is $7.81 and its 200 day moving average price is $7.42.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LRMR. EntryPoint Capital LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter valued at about $106,000. SG Americas Securities LLC boosted its stake in shares of 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 in the last quarter. Virtu Financial LLC acquired a new stake in shares of Larimar Therapeutics in the 1st quarter worth approximately $133,000. Fred Alger Management LLC raised its holdings in Larimar Therapeutics by 22.5% during the third quarter. Fred Alger Management LLC now owns 116,269 shares of the company’s stock worth $459,000 after purchasing an additional 21,331 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Larimar Therapeutics during the first quarter worth $4,829,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

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.