Larimar Therapeutics, Inc. (NASDAQ:LRMR) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 278.8% in the fourth quarter, HoldingsChannel reports. The fund owned 233,873 shares of the company’s stock after purchasing an additional 172,131 shares during the period. Cubist Systematic Strategies LLC’s holdings in Larimar Therapeutics were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in Larimar Therapeutics by 35.1% in the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after acquiring an additional 5,042 shares during the period. Barclays PLC raised its stake in shares of Larimar Therapeutics by 321.2% during the 3rd quarter. Barclays PLC now owns 60,032 shares of the company’s stock worth $393,000 after buying an additional 45,781 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Larimar Therapeutics by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock worth $143,000 after buying an additional 3,425 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Larimar Therapeutics by 23.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock worth $8,127,000 after buying an additional 399,123 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in shares of Larimar Therapeutics by 38.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock worth $3,808,000 after buying an additional 273,920 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LRMR. Robert W. Baird reduced their target price on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Truist Financial started coverage on Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target for the company. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Guggenheim restated a “buy” rating and issued a $26.00 target price on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Finally, HC Wainwright upped their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Larimar Therapeutics has a consensus rating of “Buy” and a consensus price target of $19.63.

Larimar Therapeutics Stock Down 4.5%

Shares of NASDAQ:LRMR opened at $1.79 on Thursday. The business has a fifty day moving average of $2.23 and a two-hundred day moving average of $3.95. The stock has a market cap of $114.61 million, a P/E ratio of -1.56 and a beta of 0.93. Larimar Therapeutics, Inc. has a 52-week low of $1.61 and a 52-week high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). On average, equities analysts anticipate that Larimar Therapeutics, Inc. will post -1.15 earnings per share for the current year.

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.