Larimar Therapeutics (NASDAQ:LRMR) Posts Quarterly Earnings Results

Larimar Therapeutics (NASDAQ:LRMR) issued its quarterly earnings results on Thursday. The company reported ($0.73) EPS for the quarter, FiscalAI reports.

Larimar Therapeutics Stock Up 4.0%

LRMR traded up $0.17 during midday trading on Thursday, reaching $4.47. The company had a trading volume of 2,442,407 shares, compared to its average volume of 4,562,278. Larimar Therapeutics has a 1 year low of $1.61 and a 1 year high of $6.42. The company has a market cap of $463.05 million, a P/E ratio of -2.32 and a beta of 0.91. The business has a 50-day moving average of $3.91 and a two-hundred day moving average of $3.91.

Insider Buying and Selling at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn purchased 5,000,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average cost of $5.00 per share, with a total value of $25,000,000.00. Following the acquisition, the director owned 10,622,957 shares in the company, valued at approximately $53,114,785. This trade represents a 88.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd increased its position in Larimar Therapeutics by 127.1% during the fourth quarter. XTX Topco Ltd now owns 118,938 shares of the company’s stock valued at $453,000 after acquiring an additional 66,569 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Larimar Therapeutics by 195.4% in the 4th quarter. Quadrature Capital Ltd now owns 57,646 shares of the company’s stock worth $220,000 after acquiring an additional 38,131 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Larimar Therapeutics by 7.2% during the 4th quarter. Millennium Management LLC now owns 5,206,364 shares of the company’s stock worth $19,836,000 after purchasing an additional 349,533 shares during the period. Man Group plc purchased a new position in shares of Larimar Therapeutics during the 4th quarter worth about $149,000. Finally, Bridgeway Capital Management LLC grew its holdings in Larimar Therapeutics by 42.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 111,216 shares of the company’s stock valued at $424,000 after purchasing an additional 33,000 shares during the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LRMR has been the topic of a number of research analyst reports. Wedbush lifted their price objective on Larimar Therapeutics from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Leerink Partners upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, January 22nd. Citigroup increased their price objective on Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $16.29.

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.