Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Update

Larimar Therapeutics, Inc. (NASDAQ:LRMR) saw a large drop in short interest in December. As of December 15th, there was short interest totaling 7,922,334 shares, a drop of 19.2% from the November 30th total of 9,804,662 shares. Approximately 10.0% of the company’s stock are short sold. Based on an average trading volume of 1,359,308 shares, the days-to-cover ratio is currently 5.8 days. Based on an average trading volume of 1,359,308 shares, the days-to-cover ratio is currently 5.8 days. Approximately 10.0% of the company’s stock are short sold.

Institutional Trading of Larimar Therapeutics

A number of hedge funds have recently made changes to their positions in LRMR. CWM LLC increased its holdings in shares of Larimar Therapeutics by 10.3% during the 3rd quarter. CWM LLC now owns 36,013 shares of the company’s stock worth $116,000 after acquiring an additional 3,361 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after purchasing an additional 4,376 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Larimar Therapeutics by 33.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock worth $59,000 after purchasing an additional 4,619 shares during the period. Velan Capital Investment Management LP increased its holdings in shares of Larimar Therapeutics by 17.9% in the second quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock valued at $95,000 after purchasing an additional 5,000 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Larimar Therapeutics by 7.8% in the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after purchasing an additional 5,001 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LRMR has been the subject of several recent research reports. Robert W. Baird reduced their target price on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Wednesday, October 8th. Wedbush lowered their target price on Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 30th. Finally, Oppenheimer dropped their target price on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.71.

Larimar Therapeutics Price Performance

Shares of LRMR stock opened at $3.81 on Friday. The company has a fifty day moving average price of $3.72 and a two-hundred day moving average price of $3.74. Larimar Therapeutics has a one year low of $1.61 and a one year high of $5.37. The stock has a market cap of $315.39 million, a P/E ratio of -1.97 and a beta of 1.06.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.22). As a group, equities research analysts anticipate that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

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