230,921 Shares in Larimar Therapeutics, Inc. $LRMR Bought by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP acquired a new position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 230,921 shares of the company’s stock, valued at approximately $704,309,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LRMR. Deerfield Management Company L.P. grew its position in shares of Larimar Therapeutics by 44.2% in the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock valued at $98,861,000 after purchasing an additional 9,375,000 shares during the period. Blue Owl Capital Holdings LP increased its stake in shares of Larimar Therapeutics by 16.6% during the fourth quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock worth $25,998,000 after purchasing an additional 970,650 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Larimar Therapeutics during the 2nd quarter worth about $17,318,000. Millennium Management LLC raised its position 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 last quarter. Finally, Opaleye Management Inc. lifted its stake in Larimar Therapeutics by 114.7% in the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after buying an additional 2,195,923 shares in the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Price Performance

LRMR stock opened at $4.17 on Thursday. Larimar Therapeutics, Inc. has a 1 year low of $2.71 and a 1 year high of $6.42. The firm has a market capitalization of $433.18 million, a PE ratio of -2.14 and a beta of 0.81. The business has a 50 day simple moving average of $3.85 and a 200-day simple moving average of $4.06.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. On average, equities research analysts expect that Larimar Therapeutics, Inc. will post -1.5 EPS for the current year.

Insider Activity

In related news, Director Thomas Edward Hamilton bought 50,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was acquired at an average cost of $3.34 per share, with a total value of $167,000.00. Following the purchase, the director directly owned 714,798 shares of the company’s stock, valued at $2,387,425.32. The trade was a 7.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. began coverage on Larimar Therapeutics in a report on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 price objective on the stock. Robert W. Baird decreased their target price on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th. HC Wainwright began coverage on Larimar Therapeutics in a research report on Thursday, July 2nd. They set a “buy” rating and a $10.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Larimar Therapeutics currently has a consensus rating of “Buy” and an average price target of $11.67.

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.