Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Update

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,310,000 shares, an increase of 21.7% from the October 31st total of 2,720,000 shares. Based on an average trading volume of 719,700 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analyst Weigh In

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

Larimar Therapeutics Stock Down 4.7 %

LRMR opened at $6.33 on Monday. Larimar Therapeutics has a 12-month low of $3.27 and a 12-month high of $13.68. The business has a 50 day moving average of $7.20 and a 200-day moving average of $7.82. The stock has a market cap of $403.92 million, a price-to-earnings ratio of -5.50 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same period last year, the company posted ($0.21) EPS. As a group, analysts expect that Larimar Therapeutics will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP boosted its holdings in shares of Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after acquiring an additional 7,250 shares during the period. Quest Partners LLC boosted its stake in Larimar Therapeutics by 171.1% in the 3rd quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after purchasing an additional 5,796 shares during the period. Virtu Financial LLC bought a new stake in Larimar Therapeutics in the 3rd quarter valued at $71,000. Intech Investment Management LLC acquired a new position in Larimar Therapeutics in the 3rd quarter valued at $85,000. Finally, Thoroughbred Financial Services LLC bought a new position in Larimar Therapeutics during the 2nd quarter worth $94,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

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.