Larimar Therapeutics, Inc. (NASDAQ:LRMR) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 66.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,947 shares of the company's stock after selling 508,912 shares during the quarter. Millennium Management LLC owned about 0.40% of Larimar Therapeutics worth $987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in shares of Larimar Therapeutics in the 4th quarter worth approximately $25,000. Algert Global LLC acquired a new stake in Larimar Therapeutics in the fourth quarter valued at approximately $47,000. Graham Capital Management L.P. purchased a new position in Larimar Therapeutics in the fourth quarter worth $54,000. Aquatic Capital Management LLC acquired a new position in shares of Larimar Therapeutics during the fourth quarter worth $70,000. Finally, SG Americas Securities LLC increased its position in shares of Larimar Therapeutics by 35.1% during the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company's stock worth $75,000 after purchasing an additional 5,042 shares in the last quarter. Institutional investors own 91.92% of the company's stock.

Larimar Therapeutics Stock Down 0.7%

Shares of LRMR stock traded down $0.02 on Monday, hitting $2.66. The company had a trading volume of 831,192 shares, compared to its average volume of 786,228. Larimar Therapeutics, Inc. has a twelve month low of $1.61 and a twelve month high of $11.20. The firm has a market cap of $170.31 million, a P/E ratio of -2.31 and a beta of 0.79. The company has a 50-day moving average price of $2.12 and a 200-day moving average price of $3.23.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04). Equities research analysts expect that Larimar Therapeutics, Inc. will post -1.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LRMR shares. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. HC Wainwright boosted their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Robert W. Baird decreased their price objective on shares of Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. Finally, Guggenheim reissued a "buy" rating and set a $26.00 target price on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $19.67.

Larimar Therapeutics Company 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.