Point72 Asset Management L.P. Sells 396,481 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Point72 Asset Management L.P. cut its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 65.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,100 shares of the company's stock after selling 396,481 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.32% of Larimar Therapeutics worth $1,357,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LRMR. Janus Henderson Group PLC grew its holdings in Larimar Therapeutics by 27.2% during the third quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company's stock worth $36,379,000 after buying an additional 1,189,467 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Larimar Therapeutics by 20.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company's stock valued at $9,527,000 after acquiring an additional 225,879 shares during the period. Millennium Management LLC lifted its stake in shares of Larimar Therapeutics by 30.2% during 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Larimar Therapeutics by 108.9% during the 3rd quarter. GSA Capital Partners LLP now owns 107,408 shares of the company's stock worth $704,000 after purchasing an additional 55,984 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They issued an "outperform" rating and a $26.00 price target on the stock. Robert W. Baird began 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 for the company. Baird R W raised Larimar Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 4th. Wedbush assumed coverage on Larimar Therapeutics in a research report on Thursday, October 3rd. They set an "outperform" rating and a $22.00 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of Larimar Therapeutics in a report on Monday, November 18th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $20.43.

Larimar Therapeutics Trading Down 1.1 %

Shares of LRMR traded down $0.07 during midday trading on Wednesday, reaching $6.50. The stock had a trading volume of 641,228 shares, compared to its average volume of 588,844. The company has a market capitalization of $414.77 million, a price-to-earnings ratio of -5.71 and a beta of 0.86. The company's 50-day moving average is $7.19 and its 200 day moving average is $7.77. Larimar Therapeutics, Inc. has a 12-month low of $3.61 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly 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 quarter in the prior year, the firm earned ($0.21) EPS. Research analysts forecast 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.