Janus Henderson Group PLC Grows Stock Holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Janus Henderson Group PLC raised its position in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 27.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,566,855 shares of the company's stock after acquiring an additional 1,189,467 shares during the period. Janus Henderson Group PLC owned approximately 8.72% of Larimar Therapeutics worth $36,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LRMR. Vanguard Group Inc. lifted its position in Larimar Therapeutics by 62.7% in the first quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company's stock valued at $17,971,000 after purchasing an additional 912,458 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Larimar Therapeutics by 20.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company's stock worth $9,527,000 after buying an additional 225,879 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Larimar Therapeutics by 30.2% in the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company's stock valued at $7,381,000 after buying an additional 235,865 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of 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 buying an additional 165,181 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Larimar Therapeutics by 57.2% during the second quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company's stock worth $978,000 after acquiring an additional 49,102 shares during the period. Hedge funds and other institutional investors own 91.92% of the company's stock.

Analyst Ratings Changes

LRMR has been the subject of a number of recent analyst reports. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Larimar Therapeutics in a report on Monday, November 18th. William Blair reiterated an "outperform" rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Oppenheimer initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, October 16th. They set an "outperform" rating and a $26.00 target price on the stock. Wedbush initiated coverage on shares of Larimar Therapeutics in a report on Thursday, October 3rd. They issued an "outperform" rating and a $22.00 target price for the company. Finally, Baird R W raised Larimar Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $20.43.

Larimar Therapeutics Trading Up 7.3 %

Shares of LRMR stock traded up $0.44 during trading hours on Friday, hitting $6.46. The company's stock had a trading volume of 573,804 shares, compared to its average volume of 745,084. The business has a fifty day moving average of $7.18 and a 200-day moving average of $7.78. Larimar Therapeutics, Inc. has a twelve month low of $3.34 and a twelve month high of $13.68. The stock has a market cap of $412.21 million, a price-to-earnings ratio of -5.62 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.13. During the same period last year, the firm posted ($0.21) EPS. On average, equities analysts expect that Larimar Therapeutics, Inc. will post -1.16 EPS for the current fiscal year.

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.