Larimar Therapeutics (NASDAQ:LRMR) Receives “Buy” Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Larimar Therapeutics (NASDAQ:LRMR – Get Rating) in a research note released on Wednesday morning, Benzinga reports. They currently have a $12.00 target price on the stock.

Separately, Citigroup assumed coverage on Larimar Therapeutics in a research report on Tuesday, December 13th. They issued a neutral rating and a $4.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Larimar Therapeutics presently has a consensus rating of Moderate Buy and a consensus price target of $10.67.

Larimar Therapeutics Trading Down 8.0 %

Larimar Therapeutics stock opened at $5.38 on Wednesday. Larimar Therapeutics has a 12 month low of $1.53 and a 12 month high of $6.85. The stock’s 50 day moving average is $5.46 and its 200-day moving average is $4.12. The company has a market capitalization of $95.28 million, a price-to-earnings ratio of -3.49 and a beta of 0.51.

Institutional Investors Weigh In On Larimar Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC acquired a new stake in Larimar Therapeutics during the third quarter worth approximately $9,152,000. Verition Fund Management LLC grew its position in Larimar Therapeutics by 6.1% during the fourth quarter. Verition Fund Management LLC now owns 1,476,224 shares of the company’s stock worth $6,097,000 after buying an additional 84,888 shares in the last quarter. Mangrove Partners grew its position in Larimar Therapeutics by 49.0% during the third quarter. Mangrove Partners now owns 1,292,812 shares of the company’s stock worth $4,137,000 after buying an additional 425,000 shares in the last quarter. Vanguard Group Inc. grew its position in Larimar Therapeutics by 86.8% during the third quarter. Vanguard Group Inc. now owns 954,760 shares of the company’s stock worth $3,055,000 after buying an additional 443,678 shares in the last quarter. Finally, Commodore Capital LP acquired a new stake in Larimar Therapeutics during the third quarter worth approximately $2,400,000.

About Larimar Therapeutics

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Larimar Therapeutics, Inc Is a clinical-stage biopharmaceutical company, which engages in the research, development, and commercialization of novel therapeutics mitochondrial disorders and Friedreich’s ataxia. The company was founded in 2005 and is headquartered in Bala Cynwyd, PA.