Franklin Resources Inc. Acquires 3,549 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Franklin Resources Inc. grew its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 21.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,723 shares of the company’s stock after purchasing an additional 3,549 shares during the quarter. Franklin Resources Inc.’s holdings in Larimar Therapeutics were worth $143,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position 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 buying an additional 49,102 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Larimar Therapeutics by 74.6% during the 2nd quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock worth $398,000 after acquiring an additional 23,475 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Larimar Therapeutics during the second quarter valued at approximately $137,000. Thoroughbred Financial Services LLC purchased a new stake in Larimar Therapeutics during the second quarter valued at approximately $94,000. Finally, Squarepoint Ops LLC boosted its stake in Larimar Therapeutics by 174.6% in the second quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock valued at $216,000 after acquiring an additional 69,858 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Stock Up 3.6 %

Shares of Larimar Therapeutics stock opened at $4.01 on Friday. Larimar Therapeutics, Inc. has a 52-week low of $3.01 and a 52-week high of $13.68. The company has a 50 day moving average of $6.32 and a 200 day moving average of $7.29. The company has a market capitalization of $255.87 million, a P/E ratio of -3.49 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period last year, the company earned ($0.21) earnings per share. As a group, research analysts anticipate that Larimar Therapeutics, Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on LRMR. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a research report on Monday, December 16th. Oppenheimer began coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Finally, Wedbush assumed coverage on shares of Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price for the company. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.