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

Cubist Systematic Strategies LLC lifted its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 278.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 233,873 shares of the company's stock after acquiring an additional 172,131 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.37% of Larimar Therapeutics worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Blue Owl Capital Holdings LP boosted its stake in Larimar Therapeutics by 11.7% during the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock valued at $18,007,000 after purchasing an additional 486,211 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Larimar Therapeutics by 23.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company's stock worth $8,127,000 after purchasing an additional 399,123 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Larimar Therapeutics by 38.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company's stock worth $3,808,000 after purchasing an additional 273,920 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Larimar Therapeutics by 45.1% in the 4th quarter. Renaissance Technologies LLC now owns 513,542 shares of the company's stock worth $1,987,000 after purchasing an additional 159,700 shares during the period. Finally, Northern Trust Corp raised its holdings in Larimar Therapeutics by 8.6% during the 4th quarter. Northern Trust Corp now owns 376,458 shares of the company's stock valued at $1,457,000 after acquiring an additional 29,924 shares during the period. 91.92% of the stock is owned by institutional investors.

Larimar Therapeutics Stock Performance

Shares of NASDAQ:LRMR traded up $0.00 during trading on Tuesday, reaching $1.95. 74,219 shares of the stock traded hands, compared to its average volume of 771,644. The stock has a 50-day moving average of $2.18 and a two-hundred day moving average of $3.76. Larimar Therapeutics, Inc. has a 52-week low of $1.61 and a 52-week high of $11.20. The stock has a market cap of $124.79 million, a P/E ratio of -1.69 and a beta of 0.93.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly 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). Sell-side analysts expect that Larimar Therapeutics, Inc. will post -1.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LRMR shares. Robert W. Baird lowered their target price on shares of Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. HC Wainwright upped their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Truist Financial started coverage on shares of Larimar Therapeutics in a research note on Wednesday, January 29th. They set a "buy" rating and a $18.00 price objective for the company. Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Finally, Guggenheim reissued a "buy" rating and issued a $26.00 price target on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Nine 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 stock has an average rating of "Buy" and an average target price 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.