Larimar Therapeutics (NASDAQ:LRMR) Stock Price Down 4.7%

Larimar Therapeutics, Inc. (NASDAQ:LRMR)’s share price was down 4.7% on Friday . The stock traded as low as $8.35 and last traded at $8.48. Approximately 192,128 shares traded hands during trading, a decline of 64% from the average daily volume of 527,907 shares. The stock had previously closed at $8.90.

Analysts Set New Price Targets

LRMR has been the topic of several recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $25.00 price target on shares of Larimar Therapeutics in a research note on Friday, May 31st. Robert W. Baird assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday. They set an “outperform” rating and a $16.00 price target for the company. Citigroup lifted their price target on shares of Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, Baird R W upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Larimar Therapeutics has an average rating of “Buy” and a consensus price target of $20.00.

Larimar Therapeutics Stock Performance

The firm has a market capitalization of $513.61 million, a P/E ratio of -8.30 and a beta of 0.99. The stock has a fifty day moving average price of $8.39 and a two-hundred day moving average price of $8.32.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.02). As a group, research analysts anticipate that Larimar Therapeutics, Inc. will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Larimar Therapeutics

A number of large investors have recently bought and sold shares of the business. Quarry LP raised its position in shares of Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after purchasing an additional 7,250 shares during the period. Thoroughbred Financial Services LLC acquired a new stake in Larimar Therapeutics in the second quarter worth $94,000. EntryPoint Capital LLC acquired a new stake in Larimar Therapeutics in the first quarter worth $106,000. AQR Capital Management LLC bought a new stake in Larimar Therapeutics in the second quarter valued at $113,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Larimar Therapeutics during the second quarter valued at $120,000. 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.