Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been assigned an average recommendation of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.13.

A number of research firms have recently commented on LRMR. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Larimar Therapeutics in a research report on Friday, January 24th. Truist Financial initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th.

Larimar Therapeutics Trading Down 2.6 %

LRMR stock opened at $2.95 on Wednesday. Larimar Therapeutics has a 1 year low of $2.88 and a 1 year high of $12.91. The company has a fifty day simple moving average of $3.60 and a 200 day simple moving average of $5.92. The firm has a market cap of $188.23 million, a PE ratio of -2.57 and a beta of 0.91.

Institutional Trading of Larimar Therapeutics

Several institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of Larimar Therapeutics by 15.7% in the 4th quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after purchasing an additional 876,431 shares during the period. Blue Owl Capital Holdings LP raised its stake in Larimar Therapeutics by 11.7% during the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock worth $18,007,000 after acquiring an additional 486,211 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Larimar Therapeutics by 23.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock valued at $8,127,000 after acquiring an additional 399,123 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of Larimar Therapeutics by 38.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock valued at $3,808,000 after purchasing an additional 273,920 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Larimar Therapeutics by 45.1% during the 4th quarter. Renaissance Technologies LLC now owns 513,542 shares of the company’s stock valued at $1,987,000 after purchasing an additional 159,700 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

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.