Fred Alger Management LLC Has $5.15 Million Stock Position in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Fred Alger Management LLC cut its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 15.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 786,588 shares of the company's stock after selling 146,906 shares during the period. Fred Alger Management LLC owned 1.23% of Larimar Therapeutics worth $5,152,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Larimar Therapeutics during the 3rd quarter worth approximately $85,000. Quest Partners LLC increased its holdings in Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company's stock worth $60,000 after buying an additional 5,796 shares during the last quarter. GSA Capital Partners LLP raised its position 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 in the last quarter. SG Americas Securities LLC acquired a new stake in Larimar Therapeutics in the third quarter valued at $94,000. Finally, Point72 Asset Management L.P. grew its position in shares of Larimar Therapeutics by 37.7% in the 2nd 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.

Wall Street Analysts Forecast Growth

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

Larimar Therapeutics Trading Down 4.7 %

LRMR stock traded down $0.31 during trading hours on Friday, hitting $6.33. 505,903 shares of the stock were exchanged, compared to its average volume of 755,876. Larimar Therapeutics, Inc. has a 12 month low of $3.27 and a 12 month high of $13.68. The firm has a market capitalization of $403.92 million, a P/E ratio of -5.50 and a beta of 0.95. The company has a 50-day simple moving average of $7.20 and a two-hundred day simple moving average of $7.82.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.13. During the same quarter in the prior year, the business earned ($0.21) EPS. On average, equities research analysts predict that Larimar Therapeutics, Inc. will post -1.16 earnings per share for the current year.

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.