Larimar Therapeutics, Inc. (NASDAQ:LRMR) Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its position in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,100,000 shares of the company's stock after purchasing an additional 399,123 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 3.29% of Larimar Therapeutics worth $8,127,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Larimar Therapeutics by 45.1% in the fourth quarter. Renaissance Technologies LLC now owns 513,542 shares of the company's stock valued at $1,987,000 after acquiring an additional 159,700 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Larimar Therapeutics by 10.3% in the fourth quarter. Wellington Management Group LLP now owns 116,067 shares of the company's stock valued at $449,000 after acquiring an additional 10,821 shares during the period. Jane Street Group LLC boosted its holdings in shares of Larimar Therapeutics by 80.1% in the third quarter. Jane Street Group LLC now owns 113,783 shares of the company's stock valued at $745,000 after acquiring an additional 50,622 shares during the period. Marshall Wace LLP boosted its holdings in shares of Larimar Therapeutics by 52.2% in the fourth quarter. Marshall Wace LLP now owns 110,304 shares of the company's stock valued at $427,000 after acquiring an additional 37,810 shares during the period. Finally, Jump Financial LLC boosted its holdings in shares of Larimar Therapeutics by 13.6% in the fourth quarter. Jump Financial LLC now owns 107,544 shares of the company's stock valued at $416,000 after acquiring an additional 12,893 shares during the period. Institutional investors and hedge funds own 91.92% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LRMR shares. Robert W. Baird decreased their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Guggenheim reissued a "buy" rating and issued a $26.00 price objective on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Truist Financial assumed coverage on Larimar Therapeutics in a report on Wednesday, January 29th. They set a "buy" rating and a $18.00 price target for the company. HC Wainwright increased their price target on Larimar Therapeutics from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Finally, Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $19.63.

Larimar Therapeutics Stock Performance

NASDAQ:LRMR opened at $2.35 on Tuesday. The stock has a fifty day moving average price of $2.39 and a two-hundred day moving average price of $4.34. The stock has a market capitalization of $150.47 million, a price-to-earnings ratio of -2.04 and a beta of 0.91. Larimar Therapeutics, Inc. has a 1 year low of $1.61 and a 1 year high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings data on Monday, March 24th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.16). On average, analysts predict that Larimar Therapeutics, Inc. will post -1.15 EPS 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.

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