Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) PT at $20.13

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) has received an average recommendation of "Buy" from the twelve brokerages that are currently covering the stock, Marketbeat reports. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.13.

LRMR has been the topic of a number of recent research reports. 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 price target on the stock. Truist Financial started coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They set a "buy" rating and a $18.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $15.00 price target on shares of Larimar Therapeutics in a report on Friday, January 24th. Finally, William Blair reissued an "outperform" rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th.

Larimar Therapeutics Trading Up 3.4 %

Shares of NASDAQ LRMR traded up $0.12 on Friday, reaching $3.67. 1,529,206 shares of the company traded hands, compared to its average volume of 617,200. The stock has a market capitalization of $234.17 million, a PE ratio of -3.19 and a beta of 0.91. Larimar Therapeutics has a fifty-two week low of $3.01 and a fifty-two week high of $13.68. The company has a 50 day moving average of $4.49 and a 200 day moving average of $6.51.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LRMR. JPMorgan Chase & Co. boosted its stake in Larimar Therapeutics by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company's stock valued at $143,000 after acquiring an additional 3,425 shares during the period. Franklin Resources Inc. grew its stake in Larimar Therapeutics by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 19,723 shares of the company's stock worth $143,000 after buying an additional 3,549 shares during the last quarter. Quarry LP increased its position in Larimar Therapeutics by 50.0% in the third quarter. Quarry LP now owns 12,000 shares of the company's stock worth $79,000 after buying an additional 4,000 shares during the period. SG Americas Securities LLC lifted its stake in Larimar Therapeutics by 35.1% in the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company's stock valued at $75,000 after buying an additional 5,042 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company's stock valued at $60,000 after acquiring an additional 5,796 shares during the period. 91.92% of the stock is owned by institutional investors and hedge funds.

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.