Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.22, FiscalAI reports.
Larimar Therapeutics Stock Performance
Shares of LRMR opened at $3.58 on Friday. Larimar Therapeutics has a fifty-two week low of $1.80 and a fifty-two week high of $6.42. The company has a market capitalization of $371.89 million, a price-to-earnings ratio of -1.74 and a beta of 0.91. The firm has a 50-day simple moving average of $4.61 and a 200-day simple moving average of $4.00.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on LRMR shares. Wedbush upped their price objective on shares of Larimar Therapeutics from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Citigroup upped their price objective on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Truist Financial upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Wall Street Zen upgraded shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $16.50.
Insider Buying and Selling at Larimar Therapeutics
In other Larimar Therapeutics news, Director James E. Flynn bought 5,000,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was acquired at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director owned 10,622,957 shares of the company’s stock, valued at approximately $53,114,785. This represents a 88.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.50% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Larimar Therapeutics by 75.8% during the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after purchasing an additional 4,376 shares in the last quarter. American Century Companies Inc. raised its holdings in Larimar Therapeutics by 7.8% during the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock worth $200,000 after purchasing an additional 5,001 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Larimar Therapeutics by 26.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,008 shares of the company’s stock worth $111,000 after purchasing an additional 6,038 shares in the last quarter. Barclays PLC raised its holdings in Larimar Therapeutics by 10.7% during the fourth quarter. Barclays PLC now owns 78,470 shares of the company’s stock worth $299,000 after purchasing an additional 7,577 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Larimar Therapeutics by 15.7% during the first quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock worth $140,000 after purchasing an additional 8,818 shares in the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.
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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.
Featured Articles
- Five stocks we like better than Larimar Therapeutics
- MarketBeat Week in Review – 05/11 – 05/15
- Viking Sails to All-Time Highs—Fundamentals Signal More to Come
- Datavalut Gains Traction: 5 Reasons to Sell Now
- TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
Receive News & Ratings for Larimar Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Larimar Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
