Larimar Therapeutics, Inc. (NASDAQ:LRMR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $16.50.

A number of research analysts recently issued reports on the company. Leerink Partners upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd.

Institutional Trading of Larimar Therapeutics

Large investors have recently bought and sold shares of the business. Deerfield Management Company L.P. grew its position in Larimar Therapeutics by 44.2% during the 3rd quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock worth $98,861,000 after purchasing an additional 9,375,000 shares during the last quarter. Opaleye Management Inc. boosted its stake in shares of Larimar Therapeutics by 114.7% during the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock worth $11,878,000 after buying an additional 2,195,923 shares during the period. Woodline Partners LP grew its holdings in shares of Larimar Therapeutics by 160.6% during the third quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock worth $5,242,000 after buying an additional 1,000,168 shares during the last quarter. AIGH Capital Management LLC purchased a new position in shares of Larimar Therapeutics during the third quarter worth about $3,230,000. Finally, Blue Owl Capital Holdings LP increased its position in Larimar Therapeutics by 16.6% in the 4th quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock valued at $25,998,000 after acquiring an additional 970,650 shares during the period. Institutional investors and hedge funds own 91.92% of the company’s stock.

Larimar Therapeutics Stock Performance

Shares of LRMR stock opened at $3.33 on Wednesday. The stock’s 50-day moving average is $3.58 and its two-hundred day moving average is $3.79. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $5.37. The firm has a market cap of $275.66 million, a price-to-earnings ratio of -1.73 and a beta of 1.00.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.