Renaissance Technologies LLC Buys 442,676 Shares of Larimar Therapeutics, Inc. $LRMR

Renaissance Technologies LLC increased its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 148.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 739,942 shares of the company’s stock after buying an additional 442,676 shares during the period. Renaissance Technologies LLC’s holdings in Larimar Therapeutics were worth $3,330,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after acquiring an additional 4,376 shares during the period. Coldstream Capital Management Inc. purchased a new position in Larimar Therapeutics in the third quarter valued at approximately $57,000. SG Americas Securities LLC purchased a new position in Larimar Therapeutics in the fourth quarter valued at approximately $60,000. Sei Investments Co. grew its holdings in Larimar Therapeutics by 54.5% during the first quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock valued at $74,000 after purchasing an additional 5,763 shares during the period. Finally, Commonwealth Equity Services LLC bought a new position in Larimar Therapeutics during the fourth quarter valued at $87,000. Institutional investors own 91.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright assumed coverage on Larimar Therapeutics in a research note on Thursday, July 2nd. They issued a “buy” rating and a $10.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Larimar Therapeutics in a report on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 price objective for the company. Wedbush lowered their price objective on Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.57.

Insider Transactions at Larimar Therapeutics

In other news, Director Thomas Edward Hamilton bought 50,000 shares of the stock in a transaction on Monday, July 6th. The shares were acquired at an average cost of $3.34 per share, for a total transaction of $167,000.00. Following the purchase, the director directly owned 714,798 shares of the company’s stock, valued at $2,387,425.32. This trade represents a 7.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

Larimar Therapeutics Stock Down 1.0%

Shares of LRMR opened at $4.16 on Friday. Larimar Therapeutics, Inc. has a twelve month low of $2.71 and a twelve month high of $6.42. The stock has a market cap of $432.14 million, a PE ratio of -2.13 and a beta of 0.81. The business’s 50-day moving average price is $3.64 and its 200-day moving average price is $3.98.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.08. Analysts expect that Larimar Therapeutics, Inc. will post -1.5 earnings per share for the current fiscal year.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.