BlackRock Inc. Buys New Position in Larimar Therapeutics, Inc. $LRMR

Key Points

• BlackRock acquired 5.68 million shares of Larimar Therapeutics in the second quarter, worth approximately $17.3 million and representing a 5.47% stake. Institutional investors collectively own 91.92% of the company.
• Larimar’s shares opened at $3.83, while the company reported a quarterly loss of $0.30 per share—better than the $0.38 analyst consensus. Analysts project a full-year loss of $1.50 per share.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $11.67, despite targets ranging from $5 to $11 and one “Sell” rating.

BlackRock Inc. purchased a new stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,678,035 shares of the company's stock, valued at approximately $17,318,000. BlackRock Inc. owned 5.47% of Larimar Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pallas Capital Advisors LLC bought a new position in Larimar Therapeutics during the second quarter worth $31,000. BNP Paribas Financial Markets grew its position in Larimar Therapeutics by 75.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company's stock valued at $33,000 after purchasing an additional 4,376 shares during the period. Sei Investments Co. increased its stake in Larimar Therapeutics by 54.5% during the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company's stock valued at $74,000 after purchasing an additional 5,763 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Larimar Therapeutics during the 3rd quarter valued at $57,000. Finally, Walleye Trading LLC acquired a new position in Larimar Therapeutics during the second quarter worth $61,000. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Price Performance

NASDAQ:LRMR opened at $3.83 on Friday. The company has a market capitalization of $397.86 million, a P/E ratio of -1.96 and a beta of 0.74. The business has a fifty day simple moving average of $3.89 and a two-hundred day simple moving average of $4.08. Larimar Therapeutics, Inc. has a 1 year low of $2.71 and a 1 year high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.38) by $0.08. As a group, analysts anticipate that Larimar Therapeutics, Inc. will post -1.5 earnings per share for the current year.

Insider Transactions at Larimar Therapeutics

In other Larimar Therapeutics news, Director Thomas Hamilton acquired 50,000 shares of the company's stock in a transaction on Monday, July 6th. The shares were acquired at an average cost of $3.34 per share, with a total value of $167,000.00. Following the completion of the acquisition, the director directly owned 714,798 shares in the company, valued at $2,387,425.32. This trade represents a 7.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

LRMR has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Larimar Therapeutics in a research report on Friday, July 17th. JPMorgan Chase & Co. began coverage on Larimar Therapeutics in a report on Wednesday, May 27th. They set an "overweight" rating and a $9.00 price target on the stock. HC Wainwright initiated 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. Robert W. Baird reduced their price objective on Larimar Therapeutics from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Finally, Wedbush reduced their price objective on Larimar Therapeutics from $12.00 to $11.00 and set an "outperform" rating for the company in a research note on Wednesday, August 5th. Three research 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. Based on data from MarketBeat, Larimar Therapeutics currently has a consensus rating of "Buy" and an average price target of $11.67.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.

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