AIGH Capital Management LLC Buys 1,850,000 Shares of Larimar Therapeutics, Inc. $LRMR

Key Points

• AIGH Capital Management initiated a 1.85 million-share position in Larimar Therapeutics, valued at about $5.9 million and representing roughly 1.78% of the company.
• Institutional investors own 91.92% of Larimar’s shares; other firms, including BlackRock, Dimensional Fund Advisors and Renaissance Technologies, also reported stakes or increased holdings.
• Analysts’ consensus rating is “Buy,” with an average price target of $10.33. Larimar reported a quarterly loss of $0.30 per share, better than the $0.38 loss analysts expected.

AIGH Capital Management LLC bought a new stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,850,000 shares of the company's stock, valued at approximately $5,911,000. Larimar Therapeutics makes up approximately 0.6% of AIGH Capital Management LLC's investment portfolio, making the stock its 28th largest position. AIGH Capital Management LLC owned approximately 1.78% of Larimar Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Larimar Therapeutics during the second quarter worth approximately $17,318,000. Dimensional Fund Advisors LP increased its stake in shares of Larimar Therapeutics by 143.8% in the first quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company's stock worth $3,592,000 after acquiring an additional 470,968 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Larimar Therapeutics by 148.9% in the first quarter. Renaissance Technologies LLC now owns 739,942 shares of the company's stock worth $3,330,000 after acquiring an additional 442,676 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Larimar Therapeutics in the 2nd quarter worth about $1,210,000. Finally, SummitTX Capital L.P. acquired a new position in Larimar Therapeutics in the 1st quarter worth about $1,709,000. Institutional investors and hedge funds own 91.92% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on LRMR. Wedbush cut their price objective on shares of Larimar Therapeutics from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Larimar Therapeutics in a research report on Thursday, October 15th. Finally, Leerink Partners assumed coverage on shares of Larimar Therapeutics in a research report on Monday, September 14th. They issued an "outperform" rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $10.33.

Larimar Therapeutics Trading Down 15.9%

Shares of LRMR stock opened at $2.32 on Friday. The firm has a market capitalization of $241.01 million, a P/E ratio of -1.19 and a beta of 0.73. Larimar Therapeutics, Inc. has a 1 year low of $1.91 and a 1 year high of $6.42. The firm's fifty day simple moving average is $3.08 and its 200 day simple moving average is $3.79.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.08. Equities research analysts anticipate that Larimar Therapeutics, Inc. will post -1.37 EPS for the current fiscal year.

About Larimar Therapeutics

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

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