Point72 Asset Management L.P. Has $1.36 Million Holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Point72 Asset Management L.P. reduced its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 65.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,100 shares of the company’s stock after selling 396,481 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.32% of Larimar Therapeutics worth $1,357,000 at the end of the most recent reporting period.

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

Larimar Therapeutics Stock Down 2.8 %

LRMR stock opened at $6.57 on Wednesday. Larimar Therapeutics, Inc. has a twelve month low of $3.34 and a twelve month high of $13.68. The business’s fifty day moving average is $7.18 and its 200-day moving average is $7.77. The company has a market cap of $419.23 million, a P/E ratio of -5.51 and a beta of 0.86.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wedbush assumed coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a report on Monday, November 18th. Oppenheimer assumed coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Finally, Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.