Ballentine Partners LLC Invests $137,000 in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Ballentine Partners LLC purchased a new position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,852 shares of the company’s stock, valued at approximately $137,000.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Larimar Therapeutics in the first quarter worth approximately $106,000. Virtu Financial LLC purchased a new position in shares of Larimar Therapeutics in the first quarter worth approximately $133,000. Rhumbline Advisers boosted its holdings in shares of Larimar Therapeutics by 74.6% in the second quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock worth $398,000 after buying an additional 23,475 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Larimar Therapeutics by 57.2% in the second quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock worth $978,000 after buying an additional 49,102 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Larimar Therapeutics in the first quarter worth approximately $4,829,000. 91.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LRMR has been the topic of a number of research reports. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a report on Friday, May 31st. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Citigroup lifted their price target on shares of Larimar Therapeutics from $10.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.00.

Larimar Therapeutics Stock Performance

LRMR opened at $7.24 on Friday. Larimar Therapeutics, Inc. has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The firm’s fifty day moving average is $8.36 and its 200 day moving average is $8.22. The stock has a market cap of $461.93 million, a price-to-earnings ratio of -7.46 and a beta of 0.99.

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 analysts’ consensus estimates of ($0.32) by ($0.02). On average, equities research analysts predict that Larimar Therapeutics, Inc. will post -1.4 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.