Ieq Capital LLC Takes Position in Larimar Therapeutics, Inc. $LRMR

Ieq Capital LLC acquired a new position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 203,363 shares of the company’s stock, valued at approximately $620,000.

Several other institutional investors have also modified their holdings of LRMR. BNP Paribas Financial Markets increased its holdings in Larimar Therapeutics by 75.8% in the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after buying an additional 4,376 shares during the last quarter. American Century Companies Inc. raised its stake in 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 buying an additional 5,001 shares in the last quarter. Sei Investments Co. lifted its holdings in Larimar Therapeutics by 54.5% during the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock worth $74,000 after buying an additional 5,763 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Larimar Therapeutics by 26.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,008 shares of the company’s stock worth $111,000 after buying an additional 6,038 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Larimar Therapeutics by 17.0% during the 1st quarter. Bank of America Corp DE now owns 47,359 shares of the company’s stock worth $213,000 after acquiring an additional 6,886 shares in the last quarter. 91.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Larimar Therapeutics

In other news, Director Thomas Edward Hamilton acquired 50,000 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 30th. HC Wainwright initiated coverage on shares of Larimar Therapeutics in a research note on Thursday, July 2nd. They issued a “buy” rating and a $10.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Friday, July 17th. Wedbush reduced their price objective on shares of Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Finally, Robert W. Baird reduced their price objective on shares of Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.67.

Larimar Therapeutics Stock Performance

Larimar Therapeutics stock opened at $4.01 on Friday. Larimar Therapeutics, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $6.42. The company has a market capitalization of $416.56 million, a P/E ratio of -2.06 and a beta of 0.81. The stock has a 50-day simple moving average of $3.87 and a 200-day simple moving average of $4.06.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. As a group, analysts forecast that Larimar Therapeutics, Inc. will post -1.5 earnings per share for the current 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.