Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Update

Larimar Therapeutics, Inc. (NASDAQ:LRMRGet Free Report) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 357,100 shares, a decline of 8.4% from the December 31st total of 390,000 shares. Based on an average daily trading volume, of 128,900 shares, the short-interest ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded Larimar Therapeutics from a “neutral” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Friday, November 17th.

View Our Latest Stock Report on Larimar Therapeutics

Larimar Therapeutics Stock Performance

LRMR opened at $5.85 on Wednesday. Larimar Therapeutics has a 1-year low of $2.18 and a 1-year high of $6.85. The business has a 50 day moving average price of $4.21 and a two-hundred day moving average price of $3.77.

Larimar Therapeutics (NASDAQ:LRMRGet Free Report) last announced its quarterly earnings data on Tuesday, November 14th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. Sell-side analysts anticipate that Larimar Therapeutics will post -0.81 EPS for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds have recently bought and sold shares of the company. CHI Advisors LLC lifted its stake in shares of Larimar Therapeutics by 24.3% in the second quarter. CHI Advisors LLC now owns 3,414,468 shares of the company’s stock valued at $10,687,000 after buying an additional 668,203 shares during the period. BlackRock Inc. raised its position in Larimar Therapeutics by 345.1% in the second quarter. BlackRock Inc. now owns 1,438,283 shares of the company’s stock worth $4,502,000 after purchasing an additional 1,115,152 shares in the last quarter. Vanguard Group Inc. raised its position in Larimar Therapeutics by 2.6% in the third quarter. Vanguard Group Inc. now owns 1,427,727 shares of the company’s stock worth $5,640,000 after purchasing an additional 36,126 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Larimar Therapeutics by 80.6% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,176,680 shares of the company’s stock worth $4,648,000 after purchasing an additional 525,000 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Larimar Therapeutics by 84.4% in the second quarter. Point72 Asset Management L.P. now owns 839,000 shares of the company’s stock worth $2,626,000 after purchasing an additional 384,000 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors.

About Larimar Therapeutics

(Get Free Report)

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 clinical trial for the treatment of Friedreich's ataxia, a rare, progressive, and fatal genetic disease.

Further Reading

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