Renaissance Technologies LLC Has $3.33 Million Position in Larimar Therapeutics, Inc. $LRMR

Key Points

• Renaissance Technologies increased its Larimar Therapeutics position by 148.9% to 739,942 shares, worth approximately $3.33 million. Institutional investors and hedge funds collectively own 91.92% of LRMR.
• Director Thomas Edward Hamilton purchased 50,000 shares at $3.34 each, increasing his stake by 7.52%; insiders now own 4.00% of the company.
• Analysts maintain a generally positive outlook, with an average “Buy” rating and a $12.57 price target, despite mixed views. LRMR recently traded at $4.16 and reported a quarterly loss of $0.30 per share, beating estimates of a $0.38 loss.

Renaissance Technologies LLC lifted its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 148.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 739,942 shares of the company's stock after acquiring an additional 442,676 shares during the period. Renaissance Technologies LLC owned approximately 0.71% of Larimar Therapeutics worth $3,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in Larimar Therapeutics by 75.8% in the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company's stock valued at $33,000 after buying an additional 4,376 shares during the period. SG Americas Securities LLC bought a new stake in shares of Larimar Therapeutics in the 4th quarter valued at $60,000. Sei Investments Co. lifted its position in shares of 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 acquiring an additional 5,763 shares during the period. Coldstream Capital Management Inc. bought a new position in Larimar Therapeutics during the third quarter worth $57,000. Finally, Strs Ohio boosted its stake in Larimar Therapeutics by 174.7% during the first quarter. Strs Ohio now owns 21,700 shares of the company's stock worth $98,000 after acquiring an additional 13,800 shares in the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Larimar Therapeutics

In other Larimar Therapeutics news, Director Thomas Edward Hamilton bought 50,000 shares of Larimar Therapeutics stock in a transaction dated Monday, July 6th. The stock was bought 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 approximately $2,387,425.32. The trade was a 7.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. HC Wainwright initiated coverage on shares of Larimar Therapeutics in a research report on Thursday, July 2nd. They set a "buy" rating and a $10.00 price objective on the stock. Wedbush reduced their target price on Larimar Therapeutics from $12.00 to $11.00 and set an "outperform" rating for the company in a research note on Wednesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Larimar Therapeutics in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. assumed coverage on Larimar Therapeutics in a research note on Wednesday, May 27th. They set an "overweight" rating and a $9.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $12.57.

Larimar Therapeutics Price Performance

LRMR opened at $4.16 on Friday. The company's 50-day moving average is $3.64 and its 200 day moving average is $3.98. Larimar Therapeutics, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $6.42. The firm has a market capitalization of $432.14 million, a P/E ratio of -2.13 and a beta of 0.81.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.08. On average, equities research analysts expect that Larimar Therapeutics, Inc. will post -1.5 earnings per share for the current year.

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

Want to see what other hedge funds are holding LRMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source