Charles Schwab Investment Management Inc. Lowers Stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Charles Schwab Investment Management Inc. lessened its stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,127 shares of the company’s stock after selling 2,968 shares during the period. Charles Schwab Investment Management Inc. owned 0.20% of Larimar Therapeutics worth $820,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC boosted its holdings in shares of Larimar Therapeutics by 20.8% in the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock valued at $9,527,000 after purchasing an additional 225,879 shares during the period. Millennium Management LLC raised its holdings in shares of Larimar Therapeutics by 30.2% in the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after purchasing an additional 235,865 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Larimar Therapeutics by 37.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock worth $4,376,000 after purchasing an additional 165,181 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Larimar Therapeutics by 57.2% during the second quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock valued at $978,000 after purchasing an additional 49,102 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Larimar Therapeutics by 108.9% during the third quarter. GSA Capital Partners LLP now owns 107,408 shares of the company’s stock valued at $704,000 after buying an additional 55,984 shares during the period. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Down 3.7 %

Shares of LRMR opened at $4.16 on Thursday. The firm has a market cap of $265.44 million, a P/E ratio of -3.62 and a beta of 0.86. The stock’s 50 day moving average is $7.03 and its two-hundred day moving average is $7.68. Larimar Therapeutics, Inc. has a 12 month low of $3.01 and a 12 month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter in the previous year, the business posted ($0.21) earnings per share. Equities research analysts forecast that Larimar Therapeutics, Inc. will post -1.16 EPS for the current year.

Analyst Ratings Changes

LRMR has been the topic of several recent research reports. Wedbush started coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a report on Monday. Robert W. Baird started coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target for the company. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $20.43.

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.