Marshall Wace LLP Has $690,000 Stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Marshall Wace LLP reduced its position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,214 shares of the company’s stock after selling 4,574 shares during the period. Marshall Wace LLP owned about 0.15% of Larimar Therapeutics worth $690,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock valued at $17,971,000 after acquiring an additional 912,458 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Larimar Therapeutics in the first quarter worth $106,000. Janus Henderson Group PLC boosted its holdings in Larimar Therapeutics by 52.2% during the first quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after purchasing an additional 1,379,900 shares during the last quarter. RA Capital Management L.P. bought a new position in Larimar Therapeutics in the first quarter valued at $45,884,000. Finally, Virtu Financial LLC acquired a new stake in Larimar Therapeutics in the 1st quarter valued at $133,000. 91.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LRMR. HC Wainwright assumed coverage on Larimar Therapeutics in a report on Wednesday, October 2nd. They issued a “buy” rating and a $15.00 price objective for the company. Robert W. Baird began coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target for the company. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Wedbush started coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective for the company. Eight equities research 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, the stock currently has an average rating of “Buy” and an average target price of $19.50.

Larimar Therapeutics Trading Up 9.4 %

LRMR stock opened at $7.09 on Wednesday. The business’s 50 day simple moving average is $7.41 and its 200 day simple moving average is $7.78. Larimar Therapeutics, Inc. has a 1-year low of $2.18 and a 1-year high of $13.68. The firm has a market capitalization of $452.41 million, a PE ratio of -7.31 and a beta of 0.98.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.02). As a group, sell-side analysts predict that Larimar Therapeutics, Inc. will post -1.39 EPS for the current fiscal year.

Larimar Therapeutics 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.