Larimar Therapeutics, Inc. (NASDAQ:LRMR) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC reduced its position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 27.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,161,750 shares of the company’s stock after selling 432,400 shares during the quarter. Verition Fund Management LLC’s holdings in Larimar Therapeutics were worth $7,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in Larimar Therapeutics during the third quarter valued at $85,000. Quest Partners LLC grew its position in shares of Larimar Therapeutics by 171.1% during the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after buying an additional 5,796 shares during the last quarter. GSA Capital Partners LLP raised its stake in Larimar Therapeutics by 108.9% during the third quarter. GSA Capital Partners LLP now owns 107,408 shares of the company’s stock worth $704,000 after acquiring an additional 55,984 shares during the period. SG Americas Securities LLC bought a new position in Larimar Therapeutics in the third quarter worth about $94,000. Finally, Point72 Asset Management L.P. boosted its stake in Larimar Therapeutics by 37.7% in the second quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock valued at $4,376,000 after acquiring an additional 165,181 shares during the period. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Stock Performance

LRMR stock opened at $6.33 on Monday. The firm’s 50-day moving average is $7.20 and its two-hundred day moving average is $7.82. Larimar Therapeutics, Inc. has a 52 week low of $3.27 and a 52 week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same period in the prior year, the firm posted ($0.21) EPS. Equities analysts anticipate that Larimar Therapeutics, Inc. will post -1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LRMR shares. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a research report on Monday, November 18th. William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Wedbush started coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 price target for the company. Oppenheimer started coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective on the stock. Finally, Robert W. Baird assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $16.00 target price for the company. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $20.43.

Larimar Therapeutics 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.