The Manufacturers Life Insurance Company bought a new position in Larimar Therapeutics, Inc. (NASDAQ:LRMR – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 16,615 shares of the company’s stock, valued at approximately $120,000.
Other large investors have also recently bought and sold shares of the company. RA Capital Management L.P. acquired a new position in shares of Larimar Therapeutics during the first quarter worth $45,884,000. Janus Henderson Group PLC raised its position in Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after purchasing an additional 1,379,900 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Larimar Therapeutics by 62.7% during the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after buying an additional 912,458 shares during the period. Millennium Management LLC lifted its holdings in Larimar Therapeutics by 30.2% during the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after buying an additional 235,865 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Larimar Therapeutics by 174.6% in the 2nd quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock valued at $216,000 after buying an additional 69,858 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors.
Larimar Therapeutics Price Performance
Shares of Larimar Therapeutics stock opened at $7.76 on Monday. The business has a 50-day simple moving average of $7.32 and a 200 day simple moving average of $7.77. Larimar Therapeutics, Inc. has a one year low of $2.18 and a one year high of $13.68. The firm has a market capitalization of $495.17 million, a price-to-earnings ratio of -6.93 and a beta of 0.98.
Analysts Set New Price Targets
Several analysts recently commented on the company. Robert W. Baird initiated coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price on the stock. HC Wainwright assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 2nd. They set a “buy” rating and a $15.00 price objective for the company. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Wedbush assumed coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Oppenheimer assumed coverage on Larimar Therapeutics in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective for the company. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Larimar Therapeutics presently has an average rating of “Buy” and an average target price of $20.43.
Read Our Latest Research Report on Larimar Therapeutics
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.
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