Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Down 26.7% in October

Larimar Therapeutics, Inc. (NASDAQ:LRMR) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,720,000 shares, a drop of 26.7% from the October 15th total of 3,710,000 shares. Based on an average daily volume of 642,600 shares, the short-interest ratio is currently 4.2 days.

Wall Street Analysts Forecast Growth

LRMR has been the topic of a number of recent research reports. Wedbush began coverage on Larimar Therapeutics in a report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price on the stock. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Oppenheimer assumed coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 target price for the company. Robert W. Baird initiated coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Larimar Therapeutics in a research note on Thursday, October 31st. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Stock Down 4.7 %

Shares of LRMR traded down $0.37 during midday trading on Thursday, reaching $7.57. 487,870 shares of the stock were exchanged, compared to its average volume of 580,616. Larimar Therapeutics has a 12-month low of $2.49 and a 12-month high of $13.68. The firm has a 50 day simple moving average of $7.43 and a 200-day simple moving average of $7.92. The company has a market cap of $483.04 million, a price-to-earnings ratio of -6.90 and a beta of 0.95.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data 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 last year, the business posted ($0.21) EPS. Research analysts expect that Larimar Therapeutics will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake 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 valued at $17,971,000 after acquiring an additional 912,458 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Larimar Therapeutics in the 1st quarter valued at $106,000. Janus Henderson Group PLC grew its holdings in shares of Larimar Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock valued at $30,459,000 after purchasing an additional 1,379,900 shares during the last quarter. RA Capital Management L.P. bought a new stake in shares of Larimar Therapeutics during the first quarter worth about $45,884,000. Finally, Virtu Financial LLC acquired a new position in Larimar Therapeutics in the 1st quarter valued at approximately $133,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

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.