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

Barclays PLC grew its stake 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 (SEC). The institutional investor owned 60,032 shares of the company’s stock after buying an additional 45,781 shares during the period. Barclays PLC owned approximately 0.09% of Larimar Therapeutics worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LRMR. Janus Henderson Group PLC lifted its holdings in shares of Larimar Therapeutics by 27.2% during the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock worth $36,379,000 after acquiring an additional 1,189,467 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Larimar Therapeutics by 20.8% during the second quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after purchasing an additional 225,879 shares during the last quarter. Millennium Management LLC boosted 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 worth $7,381,000 after purchasing an additional 235,865 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings 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 in the last quarter. Finally, Sphera Funds Management LTD. increased its position in shares of Larimar Therapeutics by 32.6% during the 3rd quarter. Sphera Funds Management LTD. now owns 414,478 shares of the company’s stock valued at $2,715,000 after purchasing an additional 102,009 shares during the last quarter. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Stock Up 2.8 %

Shares of Larimar Therapeutics stock opened at $3.34 on Friday. The company’s fifty day simple moving average is $5.26 and its two-hundred day simple moving average is $6.96. Larimar Therapeutics, Inc. has a 12-month low of $3.01 and a 12-month high of $13.68. The firm has a market cap of $213.13 million, a PE ratio of -2.90 and a beta of 0.91.

Larimar Therapeutics (NASDAQ:LRMR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, sell-side analysts expect that Larimar Therapeutics, Inc. will post -1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LRMR has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a research report on Monday, December 16th. Wedbush assumed coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price objective for the company. Oppenheimer assumed coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price on the stock. Finally, William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Ten investment 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 stock presently has an average rating of “Buy” and a consensus price target 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.