Larimar Therapeutics (NASDAQ:LRMR) Shares Down 0.3% - Should You Sell?

Key Points

• Larimar Therapeutics shares slipped 0.3% to about $1.99 in mid-day trading, with volume slightly below average. The stock remains below its 50-day and 200-day moving averages of $3.57 and $3.80, respectively.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of $10.33, although Weiss Ratings maintains a “Sell (D-)” rating.
• The clinical-stage biotech beat quarterly EPS estimates, reporting a loss of $0.30 versus the expected $0.38 loss. Institutional investors own approximately 91.92% of the company, including a new $17.3 million BlackRock stake.

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report)'s share price dropped 0.3% during mid-day trading on Friday. The company traded as low as $1.92 and last traded at $1.9850. Approximately 1,691,963 shares changed hands during trading, a decline of 2% from the average session volume of 1,734,102 shares. The stock had previously closed at $1.99.

Analyst Ratings Changes

LRMR has been the topic of a number of research reports. Leerink Partners began coverage on Larimar Therapeutics in a report on Monday, September 14th. They issued an "outperform" rating and a $13.00 price objective on the stock. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Larimar Therapeutics in a report on Thursday. HC Wainwright began coverage on Larimar Therapeutics in a research report on Thursday, July 2nd. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Wedbush dropped their target price on Larimar Therapeutics from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $10.33.

Larimar Therapeutics Price Performance

The firm has a market cap of $206.20 million, a price-to-earnings ratio of -1.02 and a beta of 0.68. The business has a fifty day simple moving average of $3.57 and a 200 day simple moving average of $3.80.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.38) by $0.08. On average, research analysts anticipate that Larimar Therapeutics, Inc. will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Larimar Therapeutics during the 2nd quarter worth about $17,318,000. AIGH Capital Management LLC raised its holdings in Larimar Therapeutics by 50.0% in the first quarter. AIGH Capital Management LLC now owns 3,000,000 shares of the company's stock valued at $13,500,000 after acquiring an additional 1,000,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Larimar Therapeutics by 143.8% in the first quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company's stock valued at $3,592,000 after acquiring an additional 470,968 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Larimar Therapeutics by 148.9% in the first quarter. Renaissance Technologies LLC now owns 739,942 shares of the company's stock worth $3,330,000 after acquiring an additional 442,676 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Larimar Therapeutics in the second quarter worth approximately $1,210,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

About Larimar Therapeutics

Larimar Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Bala Cynwyd, Pennsylvania, focused on developing treatments for rare diseases.

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