12,953 Shares in Larimar Therapeutics, Inc. (NASDAQ:LRMR) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,953 shares of the company’s stock, valued at approximately $85,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Larimar Therapeutics by 62.7% during the first 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. Driehaus Capital Management LLC grew its position 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 worth $9,527,000 after purchasing an additional 225,879 shares during the last quarter. Millennium Management LLC increased its stake in Larimar Therapeutics by 30.2% in the second quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after purchasing an additional 235,865 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Larimar Therapeutics by 37.7% in the second quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock valued at $4,376,000 after buying an additional 165,181 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Larimar Therapeutics by 57.2% in the second quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock valued at $978,000 after buying an additional 49,102 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

Analysts Set New Price Targets

LRMR has been the topic of several recent research reports. Wedbush began coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target on the stock. William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Robert W. Baird started coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Oppenheimer started coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 target price for the company. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Stock Up 7.3 %

Shares of LRMR opened at $6.46 on Monday. Larimar Therapeutics, Inc. has a 52-week low of $3.34 and a 52-week high of $13.68. The company has a 50-day simple moving average of $7.18 and a 200-day simple moving average of $7.78. The company has a market capitalization of $412.21 million, a PE ratio of -5.62 and a beta of 0.86.

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