Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Update

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 6,370,000 shares, a decrease of 35.2% from the May 15th total of 9,830,000 shares. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is currently 5.4 days. Approximately 10.3% of the company's stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake 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 purchasing an additional 876,431 shares during the period. Blue Owl Capital Holdings LP increased its position in Larimar Therapeutics by 11.7% in 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. raised its stake in Larimar Therapeutics by 46.6% during 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 in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Larimar Therapeutics by 23.5% during the 4th 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. Finally, Nuveen LLC bought a new position in shares of Larimar Therapeutics in the first quarter worth $376,000. 91.92% of the stock is owned by institutional investors and hedge funds.

Larimar Therapeutics Price Performance

NASDAQ:LRMR traded up $0.05 during midday trading on Thursday, reaching $2.74. 722,224 shares of the company traded hands, compared to its average volume of 814,335. The firm has a market capitalization of $175.44 million, a price-to-earnings ratio of -1.84 and a beta of 0.79. The company has a fifty day moving average price of $2.27 and a 200 day moving average price of $3.08. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, equities research analysts forecast that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on LRMR shares. 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 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. Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Finally, HC Wainwright boosted their price target on 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 company's 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.