AQR Capital Management LLC Makes New $113,000 Investment in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

AQR Capital Management LLC bought a new position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,626 shares of the company’s stock, valued at approximately $113,000.

A number of other hedge funds have also made changes to their positions in the stock. Thoroughbred Financial Services LLC purchased a new stake in shares of Larimar Therapeutics in the second quarter worth approximately $94,000. EntryPoint Capital LLC purchased a new stake in shares of Larimar Therapeutics in the first quarter worth approximately $106,000. Virtu Financial LLC purchased a new stake in shares of Larimar Therapeutics in the first quarter worth approximately $133,000. Ballentine Partners LLC purchased a new stake in shares of Larimar Therapeutics in the second quarter worth approximately $137,000. Finally, Rhumbline Advisers lifted its position in shares of Larimar Therapeutics by 74.6% in the second quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock worth $398,000 after purchasing an additional 23,475 shares in the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Down 1.1 %

Shares of LRMR stock opened at $7.76 on Friday. Larimar Therapeutics, Inc. has a 12 month low of $2.18 and a 12 month high of $13.68. The business’s 50 day moving average is $7.32 and its two-hundred day moving average is $7.76. The company has a market cap of $495.10 million, a PE ratio of -8.00 and a beta of 0.98.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). As a group, equities analysts expect that Larimar Therapeutics, Inc. will post -1.39 EPS for the current fiscal year.

Analyst Ratings Changes

LRMR has been the subject of a number of research analyst reports. HC Wainwright initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $15.00 price target for the company. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective on the stock. Oppenheimer initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday. They set an “outperform” rating and a $26.00 price objective on the stock. Wedbush initiated coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $20.43.

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.