Blue Owl Capital Holdings LP Acquires 970,650 Shares of Larimar Therapeutics, Inc. $LRMR

Blue Owl Capital Holdings LP grew its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,823,690 shares of the company’s stock after purchasing an additional 970,650 shares during the quarter. Larimar Therapeutics comprises about 2.0% of Blue Owl Capital Holdings LP’s investment portfolio, making the stock its 5th largest position. Blue Owl Capital Holdings LP owned 0.08% of Larimar Therapeutics worth $25,998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AIGH Capital Management LLC boosted its stake in Larimar Therapeutics by 100.0% in the fourth quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock worth $7,620,000 after purchasing an additional 1,000,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in Larimar Therapeutics in the fourth quarter worth $60,000. Cantor Fitzgerald L. P. acquired a new position in shares of Larimar Therapeutics during the third quarter valued at $412,000. Coldstream Capital Management Inc. acquired a new position in shares of Larimar Therapeutics during the third quarter valued at $57,000. Finally, Woodline Partners LP lifted its stake 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 valued at $5,242,000 after acquiring an additional 1,000,168 shares during the period. Institutional investors and hedge funds own 91.92% of the company’s stock.

Insider Buying and Selling

In related news, Director James E. Flynn acquired 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the completion of the acquisition, the director owned 10,622,957 shares of the company’s stock, valued at $53,114,785. This trade represents a 88.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial raised Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Wedbush cut their price target on Larimar Therapeutics from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Citigroup upped their price target on Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $16.33.

Larimar Therapeutics Stock Performance

NASDAQ LRMR opened at $3.45 on Monday. The stock has a 50-day simple moving average of $4.41 and a 200 day simple moving average of $3.97. The company has a market capitalization of $358.39 million, a PE ratio of -1.67 and a beta of 0.91. Larimar Therapeutics, Inc. has a 12 month low of $1.80 and a 12 month high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.22. As a group, sell-side analysts predict that Larimar Therapeutics, Inc. will post -1.64 earnings per share for the current fiscal year.

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.