AIGH Capital Management LLC Boosts Stake in Larimar Therapeutics, Inc. $LRMR

Key Points

• AIGH Capital Management increased its Larimar Therapeutics stake by 50% in Q1, buying 1 million more shares and bringing its total to 3 million shares, or about 2.89% of the company.
• Larimar reported a smaller-than-expected quarterly loss of ($0.31) per share, beating analyst estimates, while shares recently traded around $3.61 versus a 52-week range of $2.71 to $6.42.
• Sentiment is mixed but generally positive: a company director recently bought 50,000 shares, and analysts largely rate the stock Buy/Outperform with a consensus price target of $12.71.

AIGH Capital Management LLC boosted its position in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,000,000 shares of the company's stock after purchasing an additional 1,000,000 shares during the period. Larimar Therapeutics makes up approximately 1.8% of AIGH Capital Management LLC's investment portfolio, making the stock its 15th biggest holding. AIGH Capital Management LLC owned approximately 2.89% of Larimar Therapeutics worth $13,500,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio boosted its position in shares of Larimar Therapeutics by 174.7% during the first quarter. Strs Ohio now owns 21,700 shares of the company's stock valued at $98,000 after buying an additional 13,800 shares during the period. XTX Topco Ltd raised its holdings in shares of Larimar Therapeutics by 127.1% in the fourth quarter. XTX Topco Ltd now owns 118,938 shares of the company's stock worth $453,000 after buying an additional 66,569 shares during the period. Quadrature Capital Ltd lifted its stake in shares of Larimar Therapeutics by 195.4% during the 4th quarter. Quadrature Capital Ltd now owns 57,646 shares of the company's stock worth $220,000 after acquiring an additional 38,131 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Larimar Therapeutics by 7.2% during the 4th quarter. Millennium Management LLC now owns 5,206,364 shares of the company's stock worth $19,836,000 after acquiring an additional 349,533 shares during the last quarter. Finally, Man Group plc purchased a new position in Larimar Therapeutics during the 4th quarter valued at $149,000. Institutional investors own 91.92% of the company's stock.

Larimar Therapeutics Stock Performance

Shares of NASDAQ LRMR opened at $3.61 on Thursday. Larimar Therapeutics, Inc. has a 52-week low of $2.71 and a 52-week high of $6.42. The firm has a market capitalization of $375.01 million, a price-to-earnings ratio of -1.75 and a beta of 0.83. The stock has a 50 day moving average price of $3.58 and a 200 day moving average price of $3.93.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.22. Analysts forecast that Larimar Therapeutics, Inc. will post -1.65 earnings per share for the current year.

Insider Activity

In other news, Director Thomas Edward Hamilton purchased 50,000 shares of the company's stock in a transaction dated Monday, July 6th. The shares were acquired at an average price of $3.34 per share, with a total value of $167,000.00. Following the transaction, the director owned 714,798 shares of the company's stock, valued at $2,387,425.32. This represents a 7.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. HC Wainwright started coverage on Larimar Therapeutics in a research report on Thursday, July 2nd. They issued a "buy" rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on Larimar Therapeutics in a research report on Wednesday, May 27th. They set an "overweight" rating and a $9.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Robert W. Baird cut their price target on shares of Larimar Therapeutics from $7.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, June 30th. Finally, Wedbush reduced their price target on shares of Larimar Therapeutics from $13.00 to $12.00 and set an "outperform" rating on the stock in a research note on Monday, May 18th. Three investment 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's stock. Based on data from MarketBeat.com, Larimar Therapeutics presently has an average rating of "Buy" and a consensus target price of $12.71.

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.

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