Larimar Therapeutics, Inc. (NASDAQ:LRMR) Holdings Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 62.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 226,475 shares of the company's stock after selling 383,554 shares during the period. Assenagon Asset Management S.A. owned 0.35% of Larimar Therapeutics worth $1,483,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Quarry LP raised its stake in Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company's stock valued at $58,000 after acquiring an additional 7,250 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of Larimar Therapeutics during the second quarter valued at about $94,000. SG Americas Securities LLC acquired a new stake in Larimar Therapeutics in the third quarter worth about $94,000. EntryPoint Capital LLC bought a new position in Larimar Therapeutics in the 1st quarter valued at about $106,000. Finally, AQR Capital Management LLC acquired a new position in Larimar Therapeutics during the 2nd quarter valued at about $113,000. Institutional investors and hedge funds own 91.92% of the company's stock.

Analysts Set New Price Targets

LRMR has been the subject of a number of research analyst reports. Robert W. Baird began coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They issued an "outperform" rating and a $16.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price target on shares of Larimar Therapeutics in a research note on Thursday. Baird R W raised Larimar Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 4th. Oppenheimer began coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They set an "outperform" rating and a $26.00 target price for the company. Finally, Wedbush initiated coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They issued an "outperform" rating and a $22.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Larimar Therapeutics has a consensus rating of "Buy" and a consensus price target of $20.43.

Larimar Therapeutics Stock Down 5.9 %

Shares of NASDAQ LRMR traded down $0.48 during mid-day trading on Friday, hitting $7.74. 431,681 shares of the company traded hands, compared to its average volume of 582,248. Larimar Therapeutics, Inc. has a 1 year low of $2.18 and a 1 year high of $13.68. The stock has a market capitalization of $493.89 million, a price-to-earnings ratio of -6.73 and a beta of 0.95. The business has a 50 day moving average of $7.34 and a two-hundred day moving average of $7.81.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same period last year, the company posted ($0.21) EPS. As a group, research analysts anticipate that Larimar Therapeutics, Inc. will post -1.38 EPS 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.