Geode Capital Management LLC Decreases Stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Geode Capital Management LLC cut its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 20.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 901,262 shares of the company’s stock after selling 237,861 shares during the quarter. Geode Capital Management LLC owned about 1.41% of Larimar Therapeutics worth $5,904,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in LRMR. Quarry LP grew its stake in Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after purchasing an additional 7,250 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after purchasing an additional 5,796 shares during the period. Intech Investment Management LLC purchased a new stake in Larimar Therapeutics in the third quarter valued at approximately $85,000. Thoroughbred Financial Services LLC acquired a new position in Larimar Therapeutics in the 2nd quarter worth approximately $94,000. Finally, SG Americas Securities LLC purchased a new position in Larimar Therapeutics during the 3rd quarter worth approximately $94,000. 91.92% of the stock is owned by institutional investors and hedge funds.

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $4.18 on Friday. The stock has a market capitalization of $266.71 million, a PE ratio of -3.63 and a beta of 0.86. The business has a 50 day simple moving average of $6.17 and a 200-day simple moving average of $7.23. Larimar Therapeutics, Inc. has a 12 month low of $3.01 and a 12 month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, equities research analysts anticipate that Larimar Therapeutics, Inc. will post -1.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a report on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Wedbush assumed coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Oppenheimer initiated coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price on the stock. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Larimar Therapeutics currently has an average rating of “Buy” and an average target price of $20.43.

About Larimar Therapeutics

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.