Sphera Funds Management LTD. Has $1.76 Million Holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Sphera Funds Management LTD. raised its position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 455,604 shares of the company’s stock after buying an additional 41,126 shares during the period. Sphera Funds Management LTD. owned 0.71% of Larimar Therapeutics worth $1,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in shares of Larimar Therapeutics during the fourth quarter worth approximately $25,000. Algert Global LLC acquired a new position in shares of Larimar Therapeutics during the fourth quarter worth approximately $47,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Larimar Therapeutics during the fourth quarter worth approximately $52,000. Graham Capital Management L.P. acquired a new position in shares of Larimar Therapeutics during the fourth quarter worth approximately $54,000. Finally, ProShare Advisors LLC acquired a new position in shares of Larimar Therapeutics during the fourth quarter worth approximately $58,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Performance

Shares of NASDAQ:LRMR opened at $1.87 on Friday. 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 $119.73 million, a PE ratio of -1.63 and a beta of 0.93. The company has a 50 day moving average price of $2.21 and a two-hundred day moving average price of $3.90.

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

Analyst Upgrades and Downgrades

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

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.