Larimar Therapeutics (NASDAQ:LRMR) Now Covered by Analysts at SVB Leerink

Analysts at SVB Leerink initiated coverage on shares of Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) in a research report issued on Wednesday, MarketBeat.com reports. The firm set an "outperform" rating and a $25.00 price target on the stock. SVB Leerink's price target suggests a potential upside of 223.83% from the stock's previous close.

Other research analysts have also issued reports about the company. Citigroup upped their target price on Larimar Therapeutics from $4.50 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, February 13th. Lifesci Capital reiterated an "outperform" rating on shares of Larimar Therapeutics in a research note on Tuesday, February 20th. Finally, JMP Securities reiterated a "market outperform" rating and set a $25.00 price target on shares of Larimar Therapeutics in a research note on Friday, March 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Larimar Therapeutics has a consensus rating of "Buy" and a consensus price target of $18.50.

Larimar Therapeutics Stock Performance

NASDAQ:LRMR traded up $0.36 during mid-day trading on Wednesday, hitting $7.72. 877,600 shares of the company's stock traded hands, compared to its average volume of 611,016. The company has a fifty day moving average of $8.91 and a 200 day moving average of $5.52. Larimar Therapeutics has a twelve month low of $2.18 and a twelve month high of $13.68. The company has a market capitalization of $492.54 million, a P/E ratio of -9.08 and a beta of 0.93.

Insider Transactions at Larimar Therapeutics

In related news, Director James E. Flynn bought 4,290,617 shares of the stock in a transaction dated Friday, February 16th. The shares were purchased at an average price of $8.74 per share, for a total transaction of $37,499,992.58. Following the completion of the purchase, the director now directly owns 6,151,406 shares of the company's stock, valued at $53,763,288.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.30% of the company's stock.

Institutional Trading of Larimar Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Larimar Therapeutics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,455,243 shares of the company's stock worth $6,621,000 after buying an additional 27,516 shares during the last quarter. Blue Owl Capital Holdings LP purchased a new stake in shares of Larimar Therapeutics in the fourth quarter worth about $15,536,000. Barclays PLC boosted its stake in shares of Larimar Therapeutics by 601.6% in the fourth quarter. Barclays PLC now owns 35,291 shares of the company's stock worth $160,000 after buying an additional 30,261 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Larimar Therapeutics by 8.0% during the fourth quarter. Nuveen Asset Management LLC now owns 38,492 shares of the company's stock worth $175,000 after purchasing an additional 2,837 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in Larimar Therapeutics by 5.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 119,500 shares of the company's stock worth $544,000 after purchasing an additional 6,700 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company's stock.

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.