Barclays PLC Acquires 45,781 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Barclays PLC raised its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 321.2% during the 3rd quarter, Holdings Channel reports. The fund owned 60,032 shares of the company’s stock after purchasing an additional 45,781 shares during the period. Barclays PLC’s holdings in Larimar Therapeutics were worth $393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP lifted its stake in shares of Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after purchasing an additional 7,250 shares during the last quarter. Quest Partners LLC raised its holdings in Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after purchasing an additional 5,796 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Larimar Therapeutics during the third quarter valued at about $85,000. Thoroughbred Financial Services LLC bought a new stake in shares of Larimar Therapeutics in the 2nd quarter valued at about $94,000. Finally, SG Americas Securities LLC purchased a new position in shares of Larimar Therapeutics in the 3rd quarter worth approximately $94,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LRMR has been the subject of a number of analyst reports. Wedbush assumed coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price for the company. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Larimar Therapeutics in a research note on Monday, December 16th. Finally, Oppenheimer began coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price target for the company. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Larimar Therapeutics currently has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Stock Up 4.2 %

Larimar Therapeutics stock opened at $4.18 on Friday. The stock has a 50-day moving average price of $6.17 and a 200 day moving average price of $7.24. The company has a market capitalization of $266.71 million, a price-to-earnings ratio of -3.63 and a beta of 0.86. Larimar Therapeutics, Inc. has a 52 week low of $3.01 and a 52 week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter last year, the business posted ($0.21) earnings per share. Research analysts anticipate that Larimar Therapeutics, Inc. will post -1.16 EPS 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.