Nuveen LLC Takes $376,000 Position in Larimar Therapeutics, Inc. $LRMR

Nuveen LLC acquired a new stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 174,788 shares of the company’s stock, valued at approximately $376,000.

A number of other large investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in shares of Larimar Therapeutics by 15.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after acquiring an additional 876,431 shares during the period. Sphera Funds Management LTD. boosted its position in shares of Larimar Therapeutics by 9.9% in the fourth quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company’s stock valued at $1,763,000 after acquiring an additional 41,126 shares during the period. Northern Trust Corp boosted its position in shares of Larimar Therapeutics by 8.6% in the fourth quarter. Northern Trust Corp now owns 376,458 shares of the company’s stock valued at $1,457,000 after acquiring an additional 29,924 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Larimar Therapeutics by 278.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 233,873 shares of the company’s stock valued at $905,000 after acquiring an additional 172,131 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Larimar Therapeutics by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 116,067 shares of the company’s stock valued at $449,000 after acquiring an additional 10,821 shares during the period. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Stock Performance

LRMR stock opened at $3.94 on Friday. The company has a market capitalization of $326.15 million, a PE ratio of -2.53 and a beta of 0.91. Larimar Therapeutics, Inc. has a one year low of $1.61 and a one year high of $9.50. The company’s 50 day moving average price is $3.57 and its two-hundred day moving average price is $2.82.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.06. On average, research analysts predict that Larimar Therapeutics, Inc. will post -1.15 EPS for the current year.

Insider Activity

In other news, Director James E. Flynn bought 9,375,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $3.20 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director owned 9,538,945 shares of the company’s stock, valued at approximately $30,524,624. This trade represents a 5,718.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 24th. Wedbush lowered their target price on shares of Larimar Therapeutics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. Guggenheim reaffirmed a “buy” rating and issued a $26.00 target price on shares of Larimar Therapeutics in a research note on Tuesday, June 24th. Finally, JMP Securities lowered their target price on shares of Larimar Therapeutics from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, August 15th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $18.43.

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.