Larimar Therapeutics, Inc. (NASDAQ:LRMR) Sees Significant Decrease in Short Interest

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 7,692,689 shares, a decrease of 14.3% from the February 12th total of 8,977,079 shares. Based on an average trading volume of 13,246,649 shares, the days-to-cover ratio is presently 0.6 days. Approximately 7.8% of the company’s stock are short sold. Approximately 7.8% of the company’s stock are short sold. Based on an average trading volume of 13,246,649 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Wedbush lifted their target price on shares of Larimar Therapeutics from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Lifesci Capital upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, January 22nd. Finally, Leerink Partners raised Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $16.29.

Insiders Place Their Bets

In other Larimar Therapeutics news, Director James E. Flynn acquired 5,000,000 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were purchased at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director directly owned 10,622,957 shares of the company’s stock, valued at $53,114,785. The trade was a 88.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Larimar Therapeutics

Large investors have recently bought and sold shares of the business. AIGH Capital Management LLC purchased a new position in Larimar Therapeutics in the 3rd quarter worth approximately $3,230,000. Blue Owl Capital Holdings LP grew its position in shares of Larimar Therapeutics by 18.8% in the third quarter. Blue Owl Capital Holdings LP now owns 5,853,040 shares of the company’s stock valued at $18,905,000 after purchasing an additional 925,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Larimar Therapeutics in the second quarter valued at approximately $484,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Larimar Therapeutics by 70.6% in the second quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 307,198 shares of the company’s stock valued at $888,000 after purchasing an additional 127,171 shares during the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new position in Larimar Therapeutics during the third quarter worth approximately $412,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Stock Down 3.8%

Larimar Therapeutics stock opened at $4.59 on Monday. Larimar Therapeutics has a 52-week low of $1.61 and a 52-week high of $6.42. The firm has a market capitalization of $475.48 million, a price-to-earnings ratio of -2.38 and a beta of 0.90. The company has a fifty day simple moving average of $3.85 and a 200-day simple moving average of $3.90.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.