Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Update

Larimar Therapeutics, Inc. (NASDAQ:LRMR) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,310,000 shares, an increase of 21.7% from the October 31st total of 2,720,000 shares. Based on an average trading volume of 719,700 shares, the days-to-cover ratio is currently 4.6 days.

Analyst Ratings Changes

LRMR has been the subject of several recent analyst reports. William Blair reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a research report on Monday, November 18th. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Robert W. Baird began coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Oppenheimer began coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Larimar Therapeutics currently has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Price Performance

Shares of Larimar Therapeutics stock traded down $0.06 on Monday, reaching $6.27. The company had a trading volume of 169,968 shares, compared to its average volume of 583,954. The firm has a market cap of $400.09 million, a price-to-earnings ratio of -5.50 and a beta of 0.86. The firm’s 50-day moving average price is $7.20 and its two-hundred day moving average price is $7.82. Larimar Therapeutics has a 1 year low of $3.34 and a 1 year high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. During the same period in the prior year, the business earned ($0.21) EPS. As a group, analysts anticipate that Larimar Therapeutics will post -1.16 EPS for the current year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Larimar Therapeutics by 62.7% in the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after acquiring an additional 912,458 shares in the last quarter. Virtu Financial LLC purchased a new stake in Larimar Therapeutics during the 1st quarter valued at about $133,000. Bank of New York Mellon Corp grew its stake in Larimar Therapeutics by 57.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock valued at $978,000 after purchasing an additional 49,102 shares during the last quarter. Rhumbline Advisers grew its stake in Larimar Therapeutics by 74.6% during the 2nd quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock valued at $398,000 after purchasing an additional 23,475 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in Larimar Therapeutics during the 2nd quarter valued at about $137,000. 91.92% of the stock is owned by institutional investors.

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.