Fred Alger Management LLC Sells 49,035 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Fred Alger Management LLC trimmed its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 737,553 shares of the company’s stock after selling 49,035 shares during the quarter. Fred Alger Management LLC owned 1.16% of Larimar Therapeutics worth $2,854,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Fi3 FINANCIAL ADVISORS LLC lifted its stake in shares of Larimar Therapeutics by 16.7% in the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 23,798 shares of the company’s stock valued at $92,000 after acquiring an additional 3,411 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Larimar Therapeutics by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after purchasing an additional 3,425 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Larimar Therapeutics by 12.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 35,525 shares of the company’s stock worth $137,000 after purchasing an additional 3,877 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Larimar Therapeutics by 8.1% in the fourth quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock worth $206,000 after buying an additional 3,980 shares during the period. Finally, SG Americas Securities LLC boosted its position in Larimar Therapeutics by 35.1% during the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock valued at $75,000 after buying an additional 5,042 shares during the period. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $26.00 price objective on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Robert W. Baird cut their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. HC Wainwright upped their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Citigroup reiterated a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Finally, Truist Financial initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 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 MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $19.63.

Larimar Therapeutics Price Performance

Shares of NASDAQ LRMR opened at $2.12 on Friday. Larimar Therapeutics, Inc. has a 1 year low of $1.61 and a 1 year high of $11.20. The firm has a 50-day moving average of $2.30 and a 200 day moving average of $4.07. The stock has a market cap of $135.74 million, a P/E ratio of -1.84 and a beta of 0.93.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Research analysts expect that Larimar Therapeutics, Inc. will post -1.15 earnings per share for the current fiscal year.

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.