AXQ Capital LP Takes $91,000 Position in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

AXQ Capital LP bought a new position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,578 shares of the company’s stock, valued at approximately $91,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quest Partners LLC grew its holdings in shares of 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 during the period. Virtu Financial LLC bought a new stake in shares of Larimar Therapeutics during the 3rd quarter valued at about $71,000. Quarry LP increased its position in shares of Larimar Therapeutics by 50.0% during the 3rd quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $79,000 after purchasing an additional 4,000 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Larimar Therapeutics in the third quarter worth approximately $85,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Larimar Therapeutics in the fourth quarter worth approximately $52,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Down 10.2 %

Shares of Larimar Therapeutics stock opened at $2.28 on Tuesday. The company has a market capitalization of $145.48 million, a price-to-earnings ratio of -1.98 and a beta of 0.99. The stock’s 50-day simple moving average is $3.16 and its 200-day simple moving average is $5.24. Larimar Therapeutics, Inc. has a 52 week low of $2.25 and a 52 week high of $11.20.

Analysts Set New Price Targets

Several research analysts have weighed in on LRMR shares. Truist Financial assumed coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a report on Friday, January 24th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $20.13.

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.