Verition Fund Management LLC Decreases Position in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Verition Fund Management LLC trimmed its stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 27.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,161,750 shares of the company's stock after selling 432,400 shares during the quarter. Verition Fund Management LLC owned about 1.82% of Larimar Therapeutics worth $7,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP grew its stake in shares of Larimar Therapeutics by 966.7% in the 2nd quarter. Quarry LP now owns 8,000 shares of the company's stock valued at $58,000 after buying an additional 7,250 shares during the period. Quest Partners LLC boosted its holdings in Larimar Therapeutics by 171.1% in the third quarter. Quest Partners LLC now owns 9,183 shares of the company's stock worth $60,000 after acquiring an additional 5,796 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Larimar Therapeutics in the third quarter valued at approximately $85,000. Thoroughbred Financial Services LLC bought a new stake in shares of Larimar Therapeutics during the second quarter valued at approximately $94,000. Finally, SG Americas Securities LLC acquired a new position in shares of Larimar Therapeutics during the third quarter worth approximately $94,000. 91.92% of the stock is owned by institutional investors.

Larimar Therapeutics Price Performance

Shares of NASDAQ LRMR traded down $0.13 during midday trading on Monday, reaching $6.20. The company's stock had a trading volume of 644,226 shares, compared to its average volume of 586,143. The stock has a market capitalization of $395.62 million, a P/E ratio of -5.42 and a beta of 0.86. The firm has a 50 day moving average price of $7.20 and a 200-day moving average price of $7.82. Larimar Therapeutics, Inc. has a 12-month low of $3.34 and a 12-month high of $13.68.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Robert W. Baird assumed coverage on shares of Larimar Therapeutics in a research note on Wednesday, September 4th. They set an "outperform" rating and a $16.00 price target for the company. Baird R W upgraded shares of Larimar Therapeutics to a "strong-buy" rating in a report on Wednesday, September 4th. William Blair restated an "outperform" rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Wedbush assumed coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They set an "outperform" rating and a $22.00 price target for the company. Finally, HC Wainwright reissued a "buy" rating and set a $15.00 price objective on shares of Larimar Therapeutics in a report on Monday, November 18th. 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, Larimar Therapeutics has an average rating of "Buy" and an average target price of $20.43.

Larimar Therapeutics Company 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.