Larimar Therapeutics (NASDAQ:LRMR) Coverage Initiated by Analysts at SVB Leerink

SVB Leerink began coverage on shares of Larimar Therapeutics (NASDAQ:LRMRFree Report) in a research note released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $25.00 price objective on the stock.

LRMR has been the topic of a number of other reports. Citigroup upped their price target on Larimar Therapeutics from $4.50 to $10.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. JMP Securities reissued a market outperform rating and issued a $25.00 target price on shares of Larimar Therapeutics in a research report on Friday, March 15th. Finally, Lifesci Capital reissued an outperform rating on shares of Larimar Therapeutics in a research report on Tuesday, February 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $18.50.

Check Out Our Latest Stock Analysis on LRMR

Larimar Therapeutics Trading Up 4.9 %

Shares of LRMR stock opened at $7.72 on Wednesday. The business’s fifty day simple moving average is $8.91 and its 200-day simple moving average is $5.52. The company has a market cap of $492.54 million, a PE ratio of -9.08 and a beta of 0.93. Larimar Therapeutics has a 12-month low of $2.18 and a 12-month high of $13.68.

Insider Activity at Larimar Therapeutics

In other news, Director James E. Flynn bought 4,290,617 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average cost of $8.74 per share, with a total value of $37,499,992.58. Following the transaction, the director now directly owns 6,151,406 shares in the company, valued at $53,763,288.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Larimar Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new stake in Larimar Therapeutics in the second quarter valued at $27,000. UBS Group AG boosted its holdings in Larimar Therapeutics by 8,152.8% in the first quarter. UBS Group AG now owns 5,942 shares of the company’s stock valued at $27,000 after purchasing an additional 5,870 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Larimar Therapeutics by 4,797.5% in the second quarter. Wells Fargo & Company MN now owns 9,795 shares of the company’s stock valued at $31,000 after purchasing an additional 9,595 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Larimar Therapeutics by 836.8% in the third quarter. Tower Research Capital LLC TRC now owns 11,822 shares of the company’s stock valued at $38,000 after purchasing an additional 10,560 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Larimar Therapeutics in the third quarter valued at $44,000. 91.92% of the stock is owned by hedge funds and other 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 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease.

Read More

Analyst Recommendations for Larimar Therapeutics (NASDAQ:LRMR)

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.