Larimar Therapeutics, Inc. (NASDAQ:LRMR) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 20.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 901,262 shares of the company’s stock after selling 237,861 shares during the period. Geode Capital Management LLC’s holdings in Larimar Therapeutics were worth $5,904,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LRMR. Janus Henderson Group PLC raised its position in shares of Larimar Therapeutics by 27.2% during the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after buying an additional 1,189,467 shares during the period. Driehaus Capital Management LLC raised its position in Larimar Therapeutics by 20.8% in the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock valued at $9,527,000 after purchasing an additional 225,879 shares during the period. Millennium Management LLC lifted its stake in shares of Larimar Therapeutics by 30.2% in the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after purchasing an additional 235,865 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Larimar Therapeutics by 37.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock worth $4,376,000 after purchasing an additional 165,181 shares during the period. Finally, Sphera Funds Management LTD. increased its position in shares of Larimar Therapeutics by 32.6% during the 3rd quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock worth $2,715,000 after purchasing an additional 102,009 shares during the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LRMR shares. Oppenheimer assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a research report on Monday, December 16th. Wedbush started coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Price Performance

LRMR stock opened at $4.18 on Friday. The business’s 50-day moving average is $6.17 and its two-hundred day moving average is $7.23. The firm has a market capitalization of $266.71 million, a P/E ratio of -3.63 and a beta of 0.86. Larimar Therapeutics, Inc. has a 1 year low of $3.01 and a 1 year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the firm posted ($0.21) earnings per share. On average, analysts expect that Larimar Therapeutics, Inc. will post -1.16 EPS 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.