Larimar Therapeutics (NASDAQ:LRMR) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of Larimar Therapeutics (NASDAQ:LRMR) from a neutral rating to a buy rating in a research note published on Friday, Marketbeat reports. They currently have $4.50 price objective on the stock.

A number of other research firms have also weighed in on LRMR. William Blair reiterated an outperform rating on shares of Larimar Therapeutics in a research note on Tuesday, August 15th. JMP Securities reiterated a market outperform rating and issued a $17.00 price objective on shares of Larimar Therapeutics in a research note on Tuesday, August 15th.

Larimar Therapeutics Trading Down 4.6 %

Larimar Therapeutics stock opened at $3.14 on Friday. Larimar Therapeutics has a 1-year low of $2.18 and a 1-year high of $6.85. The firm has a market capitalization of $137.86 million, a price-to-earnings ratio of -4.13 and a beta of 0.46. The firm has a 50 day simple moving average of $3.34 and a 200 day simple moving average of $3.58.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. UBS Group AG boosted its holdings in Larimar Therapeutics by 8,152.8% in the 1st quarter. UBS Group AG now owns 5,942 shares of the company’s stock valued at $27,000 after purchasing an additional 5,870 shares during the period. California State Teachers Retirement System bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth $27,000. Wells Fargo & Company MN lifted its holdings in shares of Larimar Therapeutics by 4,797.5% during the 2nd quarter. Wells Fargo & Company MN now owns 9,795 shares of the company’s stock worth $31,000 after acquiring an additional 9,595 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Larimar Therapeutics by 836.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,822 shares of the company’s stock worth $38,000 after acquiring an additional 10,560 shares during the last quarter. Finally, American International Group Inc. bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth $39,000. 91.92% of the stock is owned by institutional investors.

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 clinical trial for the treatment of Friedreich's ataxia, a rare, progressive, and fatal genetic disease.