Larimar Therapeutics, Inc. $LRMR Shares Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. increased its ownership in Larimar Therapeutics by 46.6%, holding approximately 2.25% of the company's shares valued at $3.1 million.
• Larimar Therapeutics reported a quarterly EPS of ($0.41), exceeding analyst expectations by $0.06, with analysts predicting an average target price of $18.43 for the stock.
• Insider activity saw Director James E. Flynn acquire 9.375 million shares at an average price of $3.20, representing a significant increase in his ownership in the company.

Alyeska Investment Group L.P. boosted its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 46.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,442,473 shares of the company's stock after acquiring an additional 458,396 shares during the period. Alyeska Investment Group L.P. owned 2.25% of Larimar Therapeutics worth $3,101,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in Larimar Therapeutics by 15.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock worth $24,936,000 after acquiring an additional 876,431 shares during the last quarter. Sphera Funds Management LTD. grew its holdings in shares of Larimar Therapeutics by 9.9% during the 4th quarter. Sphera Funds Management LTD. now owns 455,604 shares of the company's stock worth $1,763,000 after purchasing an additional 41,126 shares during the period. Northern Trust Corp increased its position in shares of Larimar Therapeutics by 8.6% during the 4th quarter. Northern Trust Corp now owns 376,458 shares of the company's stock worth $1,457,000 after purchasing an additional 29,924 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Larimar Therapeutics by 51.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 354,232 shares of the company's stock worth $762,000 after purchasing an additional 120,359 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Larimar Therapeutics in the 1st quarter valued at about $376,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Up 4.3%

NASDAQ:LRMR traded up $0.17 on Thursday, reaching $4.17. 1,097,898 shares of the company's stock were exchanged, compared to its average volume of 1,343,244. The firm has a market capitalization of $345.19 million, a price-to-earnings ratio of -2.67 and a beta of 0.91. Larimar Therapeutics, Inc. has a 52-week low of $1.61 and a 52-week high of $9.50. The business has a fifty day moving average of $3.65 and a 200-day moving average of $2.84.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.06. As a group, equities analysts anticipate that Larimar Therapeutics, Inc. will post -1.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LRMR. Wedbush lowered their target price on shares of Larimar Therapeutics from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Guggenheim restated a "buy" rating and issued a $26.00 price objective on shares of Larimar Therapeutics in a report on Tuesday, June 24th. JMP Securities lowered their price objective on shares of Larimar Therapeutics from $22.00 to $18.00 and set a "market outperform" rating for the company in a research report on Friday, August 15th. Finally, Citigroup reiterated a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, June 24th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $18.43.

Insider Buying and Selling

In related news, Director James E. Flynn bought 9,375,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $3.20 per share, with a total value of $30,000,000.00. Following the purchase, the director directly owned 9,538,945 shares of the company's stock, valued at $30,524,624. This trade represents a 5,718.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 4.50% of the stock is owned by insiders.

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.