Larimar Therapeutics (NASDAQ:LRMR) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Larimar Therapeutics (NASDAQ:LRMR) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning.

Other equities analysts have also recently issued reports about the company. Truist Financial upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Lifesci Capital upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Citigroup lifted their price objective on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Wedbush lifted their price objective on shares of Larimar Therapeutics from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $16.50.

Larimar Therapeutics Price Performance

Larimar Therapeutics stock opened at $3.58 on Friday. The business has a 50 day moving average of $4.61 and a 200-day moving average of $4.00. Larimar Therapeutics has a 1 year low of $1.80 and a 1 year high of $6.42. The company has a market capitalization of $371.89 million, a P/E ratio of -1.74 and a beta of 0.91.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.22. Equities analysts anticipate that Larimar Therapeutics will post -1.68 EPS for the current year.

Insider Activity

In related news, Director James E. Flynn acquired 5,000,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $25,000,000.00. Following the purchase, the director owned 10,622,957 shares in the company, valued at approximately $53,114,785. The trade was a 88.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Larimar Therapeutics

Several institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC increased its position in shares of Larimar Therapeutics by 100.0% during the 4th quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock valued at $7,620,000 after purchasing an additional 1,000,000 shares during the last quarter. Blue Owl Capital Holdings LP increased its position in shares of Larimar Therapeutics by 18.8% during the 3rd quarter. Blue Owl Capital Holdings LP now owns 5,853,040 shares of the company’s stock valued at $18,905,000 after purchasing an additional 925,000 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Larimar Therapeutics during the 3rd quarter valued at $412,000. SummitTX Capital L.P. purchased a new stake in shares of Larimar Therapeutics during the 1st quarter valued at $1,709,000. Finally, Inceptionr LLC purchased a new stake in shares of Larimar Therapeutics during the 1st quarter valued at $198,000. 91.92% of the stock is owned by institutional investors.

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.