Algert Global LLC Makes New Investment in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Algert Global LLC acquired a new stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,190 shares of the company’s stock, valued at approximately $47,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LRMR. China Universal Asset Management Co. Ltd. bought a new position in Larimar Therapeutics in the 4th quarter worth $52,000. Aquatic Capital Management LLC bought a new stake in Larimar Therapeutics during the fourth quarter valued at about $70,000. SG Americas Securities LLC lifted its position in shares of 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 in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Larimar Therapeutics by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 19,657 shares of the company’s stock worth $76,000 after acquiring an additional 6,701 shares during the period. Finally, AXQ Capital LP bought a new position in shares of Larimar Therapeutics in the fourth quarter worth about $91,000. 91.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LRMR has been the topic of several recent analyst reports. Guggenheim reissued a “buy” rating and set a $26.00 target price on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. HC Wainwright upped their target price on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th. 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 price target on the stock. Finally, Robert W. Baird dropped their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company 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 currently has an average rating of “Buy” and a consensus target price of $19.63.

Larimar Therapeutics Stock Down 9.6%

Shares of NASDAQ:LRMR opened at $1.88 on Wednesday. The firm has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $3.96. Larimar Therapeutics, Inc. has a 52 week low of $1.61 and a 52 week high of $11.20. The stock has a market capitalization of $120.37 million, a P/E ratio of -1.63 and a beta of 0.93.

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

Larimar Therapeutics Company 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.