Cubist Systematic Strategies LLC Boosts Stock Position in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Cubist Systematic Strategies LLC raised its stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 278.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,873 shares of the company’s stock after purchasing an additional 172,131 shares during the period. Cubist Systematic Strategies LLC owned 0.37% of Larimar Therapeutics worth $905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. purchased a new position in Larimar Therapeutics in the fourth quarter valued at about $308,000. Bank of America Corp DE grew its stake in Larimar Therapeutics by 8.1% in the fourth quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock valued at $206,000 after purchasing an additional 3,980 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Larimar Therapeutics in the fourth quarter valued at about $25,000. Algert Global LLC purchased a new stake in shares of Larimar Therapeutics during the fourth quarter worth about $47,000. Finally, Alyeska Investment Group L.P. grew its stake in shares of Larimar Therapeutics by 38.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock worth $3,808,000 after acquiring an additional 273,920 shares during the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Analyst Ratings Changes

LRMR has been the topic of a number of research analyst reports. HC Wainwright boosted their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. Robert W. Baird dropped their price target on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 25th. Truist Financial initiated coverage on Larimar Therapeutics in a research note on Wednesday, January 29th. They set a “buy” rating and a $18.00 price target on the stock. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Finally, Guggenheim restated a “buy” rating and set a $26.00 price target on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $19.63.

Larimar Therapeutics Stock Down 4.5%

Larimar Therapeutics stock opened at $1.79 on Thursday. Larimar Therapeutics, Inc. has a 52 week low of $1.61 and a 52 week high of $11.20. The company has a market capitalization of $114.61 million, a price-to-earnings ratio of -1.56 and a beta of 0.93. The stock has a 50-day moving average price of $2.23 and a 200 day moving average price of $3.95.

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