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

Millennium Management LLC lowered its stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 66.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 254,947 shares of the company's stock after selling 508,912 shares during the period. Millennium Management LLC owned approximately 0.40% of Larimar Therapeutics worth $987,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LRMR. SG Americas Securities LLC increased its stake in Larimar Therapeutics by 35.1% in the 4th quarter. SG Americas Securities LLC now owns 19,391 shares of the company's stock valued at $75,000 after buying an additional 5,042 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Larimar Therapeutics by 15.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock valued at $24,936,000 after acquiring an additional 876,431 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Larimar Therapeutics by 23.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company's stock worth $8,127,000 after acquiring an additional 399,123 shares during the period. Alyeska Investment Group L.P. raised its holdings in Larimar Therapeutics by 38.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company's stock worth $3,808,000 after purchasing an additional 273,920 shares in the last quarter. Finally, Blue Owl Capital Holdings LP raised its holdings in Larimar Therapeutics by 11.7% during the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock worth $18,007,000 after purchasing an additional 486,211 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company's stock.

Larimar Therapeutics Stock Up 8.9%

NASDAQ LRMR traded up $0.22 during mid-day trading on Friday, hitting $2.68. The stock had a trading volume of 1,229,289 shares, compared to its average volume of 784,283. The company has a 50 day simple moving average of $2.10 and a 200 day simple moving average of $3.29. The company has a market cap of $171.60 million, a price-to-earnings ratio of -2.33 and a beta of 0.79. Larimar Therapeutics, Inc. has a 52-week low of $1.61 and a 52-week high of $11.20.

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 for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04). As a group, equities analysts anticipate that Larimar Therapeutics, Inc. will post -1.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.