Larimar Therapeutics (NASDAQ:LRMR) Stock Falls 0.3% – Should You Sell?

Larimar Therapeutics, Inc. (NASDAQ:LRMR)’s stock price fell 0.3% on Friday. The stock traded as low as $1.92 and last traded at $1.9850. Approximately 1,691,963 shares traded hands during trading, a decline of 2% from the average daily volume of 1,734,102 shares. The stock had previously closed at $1.99.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LRMR. Robert W. Baird dropped their price objective on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. HC Wainwright started coverage on shares of Larimar Therapeutics in a research note on Thursday, July 2nd. They issued a “buy” rating and a $10.00 target price for the company. Wedbush lowered their target price on shares of Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday. Finally, Leerink Partners assumed coverage on shares of Larimar Therapeutics in a research note on Monday, September 14th. They issued an “outperform” rating and a $13.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $10.33.

Larimar Therapeutics Trading Down 0.3%

The firm has a market capitalization of $206.20 million, a price-to-earnings ratio of -1.02 and a beta of 0.68. The company’s 50 day moving average is $3.57 and its 200-day moving average is $3.80.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. Research analysts expect that Larimar Therapeutics, Inc. will post -1.37 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Larimar Therapeutics during the 2nd quarter worth about $1,210,000. BlackRock Inc. bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth about $17,318,000. Dimensional Fund Advisors LP boosted its holdings in shares of Larimar Therapeutics by 143.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock worth $3,592,000 after buying an additional 470,968 shares during the period. Renaissance Technologies LLC grew its stake in Larimar Therapeutics by 148.9% in the 1st quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock valued at $3,330,000 after buying an additional 442,676 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new position in Larimar Therapeutics in the 1st quarter valued at about $1,709,000. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Company Profile

Larimar Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Bala Cynwyd, Pennsylvania, focused on developing treatments for rare diseases.