Larimar Therapeutics (NASDAQ:LRMR) Trading 6.1% Higher

Larimar Therapeutics, Inc. (NASDAQ:LRMR)’s share price shot up 6.1% during mid-day trading on Tuesday . The company traded as high as $8.00 and last traded at $8.00. 105,785 shares were traded during trading, a decline of 80% from the average session volume of 529,982 shares. The stock had previously closed at $7.54.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $25.00 price target on shares of Larimar Therapeutics in a research report on Friday, May 31st. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Citigroup increased their price target 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, Robert W. Baird started coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.00.

Larimar Therapeutics Price Performance

The stock has a market cap of $503.46 million, a PE ratio of -8.24 and a beta of 0.99. The company has a 50-day simple moving average of $8.37 and a 200-day simple moving average of $8.26.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). On average, equities analysts expect that Larimar Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

Several large investors have recently made changes to their positions in the business. Quarry LP grew its holdings in shares of Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after purchasing an additional 7,250 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of Larimar Therapeutics during the 2nd quarter valued at about $94,000. EntryPoint Capital LLC bought a new position in shares of Larimar Therapeutics in the first quarter valued at approximately $106,000. AQR Capital Management LLC bought a new stake in Larimar Therapeutics during the 2nd quarter valued at approximately $113,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Larimar Therapeutics during the 2nd quarter worth about $120,000. Institutional investors and hedge funds 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.