Rhumbline Advisers Increases Stock Holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Rhumbline Advisers increased its holdings in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 74.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 54,936 shares of the company’s stock after purchasing an additional 23,475 shares during the period. Rhumbline Advisers’ holdings in Larimar Therapeutics were worth $398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Larimar Therapeutics during the 1st quarter worth $106,000. Virtu Financial LLC purchased a new stake in Larimar Therapeutics during the 1st quarter valued at about $133,000. Bank of New York Mellon Corp grew its stake in Larimar Therapeutics by 57.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock valued at $978,000 after purchasing an additional 49,102 shares during the last quarter. Vanguard Group Inc. grew its stake in Larimar Therapeutics by 62.7% during the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after purchasing an additional 912,458 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after purchasing an additional 1,379,900 shares during the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Down 0.2 %

Shares of LRMR opened at $6.33 on Friday. Larimar Therapeutics, Inc. has a 52 week low of $2.18 and a 52 week high of $13.68. The company has a market capitalization of $403.92 million, a price-to-earnings ratio of -6.53 and a beta of 0.99. The stock’s 50-day moving average price is $7.88 and its 200-day moving average price is $7.91.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on LRMR. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Robert W. Baird began coverage on Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $25.00 price target on shares of Larimar Therapeutics in a research note on Friday, May 31st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $20.00.

Larimar Therapeutics 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.