Sphera Funds Management LTD. Acquires 102,009 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Sphera Funds Management LTD. lifted its holdings in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 32.6% during the 3rd quarter, Holdings Channel reports. The firm owned 414,478 shares of the company’s stock after purchasing an additional 102,009 shares during the period. Sphera Funds Management LTD.’s holdings in Larimar Therapeutics were worth $2,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Larimar Therapeutics by 62.7% during the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after purchasing an additional 912,458 shares during the period. Driehaus Capital Management LLC increased its holdings in shares of Larimar Therapeutics by 20.8% during the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after purchasing an additional 225,879 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Larimar Therapeutics by 37.7% during the second 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. Quest Partners LLC increased its holdings in shares of Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after purchasing an additional 5,796 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Larimar Therapeutics by 30.2% during the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after purchasing an additional 235,865 shares during the period. 91.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LRMR. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a report on Monday, November 18th. Robert W. Baird began coverage on shares of Larimar Therapeutics in a research note 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. Wedbush started coverage on shares of 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 report on Tuesday, November 19th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics Trading Up 0.2 %

Shares of NASDAQ:LRMR opened at $6.08 on Thursday. The firm’s fifty day moving average is $7.18 and its 200-day moving average is $7.79. Larimar Therapeutics, Inc. has a 52 week low of $3.34 and a 52 week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter in the prior year, the company posted ($0.21) EPS. As a group, equities analysts expect 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.