Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Up 64.7% in May

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 9,830,000 shares, an increase of 64.7% from the April 30th total of 5,970,000 shares. Approximately 16.0% of the shares of the stock are sold short. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 9.3 days.

Larimar Therapeutics Trading Up 1.7%

Shares of NASDAQ LRMR traded up $0.04 during trading hours on Wednesday, hitting $2.45. 558,404 shares of the company traded hands, compared to its average volume of 780,856. The company's 50 day moving average price is $2.10 and its 200 day moving average price is $3.32. Larimar Therapeutics has a 12 month low of $1.61 and a 12 month high of $11.20. The stock has a market capitalization of $156.87 million, a price-to-earnings ratio of -2.13 and a beta of 0.79.

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

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of Larimar Therapeutics by 15.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company's stock valued at $24,936,000 after buying an additional 876,431 shares during the period. Blue Owl Capital Holdings LP boosted its holdings in Larimar Therapeutics by 11.7% during the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company's stock valued at $18,007,000 after acquiring an additional 486,211 shares during the period. Alyeska Investment Group L.P. grew its position in Larimar Therapeutics by 46.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company's stock valued at $3,101,000 after acquiring an additional 458,396 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Larimar Therapeutics by 23.5% in 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 purchasing an additional 399,123 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Larimar Therapeutics during the first quarter worth $376,000. 91.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LRMR shares. Robert W. Baird cut their price objective on Larimar Therapeutics from $13.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Guggenheim reaffirmed a "buy" rating and set a $26.00 price objective on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Finally, HC Wainwright raised their target price on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Larimar Therapeutics has a consensus 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.