Quest Partners LLC Raises Stock Position in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Quest Partners LLC grew its position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 171.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,183 shares of the company’s stock after buying an additional 5,796 shares during the period. Quest Partners LLC’s holdings in Larimar Therapeutics were worth $60,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Quarry LP lifted its holdings in Larimar Therapeutics by 966.7% in the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after acquiring an additional 7,250 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in Larimar Therapeutics in the second quarter valued at $94,000. SG Americas Securities LLC acquired a new position in shares of Larimar Therapeutics in the 3rd quarter valued at $94,000. AQR Capital Management LLC acquired a new position in shares of Larimar Therapeutics in the 2nd quarter valued at $113,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Larimar Therapeutics during the 2nd quarter worth $120,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LRMR. Robert W. Baird started 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. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a report on Monday, November 18th. Oppenheimer assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Stock Down 4.7 %

Larimar Therapeutics stock opened at $6.33 on Friday. The company’s 50 day moving average is $7.20 and its two-hundred day moving average is $7.82. The firm has a market cap of $403.92 million, a PE ratio of -5.50 and a beta of 0.95. Larimar Therapeutics, Inc. has a 52-week low of $3.27 and a 52-week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period in the previous year, the business earned ($0.21) earnings per share. On average, equities research analysts anticipate that Larimar Therapeutics, Inc. will post -1.16 earnings per share for the current fiscal year.

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.