Larimar Therapeutics (NASDAQ:LRMR) Sees Large Volume Increase

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) shares saw strong trading volume on Wednesday . 630,361 shares traded hands during trading, an increase of 18% from the previous session's volume of 535,874 shares.The stock last traded at $8.50 and had previously closed at $7.89.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup increased their price target on Larimar Therapeutics from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday. Lifesci Capital restated an "outperform" rating on shares of Larimar Therapeutics in a research report on Tuesday, February 20th. Leerink Partnrs restated an "outperform" rating on shares of Larimar Therapeutics in a research report on Wednesday, April 3rd. SVB Leerink initiated coverage on Larimar Therapeutics in a research report on Wednesday, April 3rd. They set an "outperform" rating and a $25.00 target price on the stock. Finally, JMP Securities restated a "market outperform" rating and set a $25.00 target price on shares of Larimar Therapeutics in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $21.33.

Larimar Therapeutics Trading Up 0.1 %

The company has a market capitalization of $504.02 million, a price-to-earnings ratio of -8.29 and a beta of 0.96. The company has a fifty day moving average of $7.47 and a 200-day moving average of $6.45.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). As a group, equities research analysts expect that Larimar Therapeutics, Inc. will post -1.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LRMR. Pale Fire Capital SE acquired a new position in shares of Larimar Therapeutics in the third quarter worth $48,000. Fred Alger Management LLC grew its stake in shares of Larimar Therapeutics by 22.5% in the third quarter. Fred Alger Management LLC now owns 116,269 shares of the company's stock worth $459,000 after acquiring an additional 21,331 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Larimar Therapeutics by 80.6% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,176,680 shares of the company's stock worth $4,648,000 after acquiring an additional 525,000 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Larimar Therapeutics by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 14,159 shares of the company's stock worth $64,000 after acquiring an additional 3,039 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Larimar Therapeutics in the first quarter worth $4,829,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

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.