Barclays PLC Acquires 45,781 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Barclays PLC lifted its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 321.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,032 shares of the company’s stock after acquiring an additional 45,781 shares during the period. Barclays PLC owned 0.09% of Larimar Therapeutics worth $393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after purchasing an additional 1,189,467 shares during the period. XTX Topco Ltd bought a new position in shares of Larimar Therapeutics during the 3rd quarter valued at approximately $100,000. Driehaus Capital Management LLC raised its holdings in Larimar Therapeutics by 20.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock valued at $9,527,000 after buying an additional 225,879 shares during the period. Quest Partners LLC lifted its position in Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after buying an additional 5,796 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Larimar Therapeutics by 37.7% during the second quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock worth $4,376,000 after buying an additional 165,181 shares during the period. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Wall Street Analyst Weigh In

LRMR has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a research note on Monday, December 16th. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Wedbush began coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price for the company. Finally, Oppenheimer initiated coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target on the stock. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Larimar Therapeutics currently has a consensus rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Stock Performance

Shares of NASDAQ:LRMR opened at $4.18 on Friday. The firm has a market cap of $266.71 million, a PE ratio of -3.63 and a beta of 0.86. The firm’s 50 day simple moving average is $6.17 and its 200-day simple moving average is $7.24. Larimar Therapeutics, Inc. has a one year low of $3.01 and a one year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period in the prior year, the business earned ($0.21) EPS. Equities research analysts predict that Larimar Therapeutics, Inc. will post -1.16 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.