Larimar Therapeutics, Inc. (NASDAQ:LRMR) Stock Position Boosted by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 152.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,246 shares of the company’s stock after buying an additional 63,563 shares during the quarter. Wellington Management Group LLP owned about 0.16% of Larimar Therapeutics worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in LRMR. Quarry LP boosted its stake in Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after buying an additional 7,250 shares in the last quarter. Quest Partners LLC lifted its stake in Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock valued at $60,000 after purchasing an additional 5,796 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Larimar Therapeutics during the 3rd quarter worth $85,000. SG Americas Securities LLC purchased a new stake in shares of Larimar Therapeutics during the third quarter valued at $94,000. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Larimar Therapeutics in the 2nd quarter valued at $94,000. 91.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wedbush assumed coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price on the stock. Baird R W raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a research report on Monday, December 16th. Oppenheimer began coverage on shares of Larimar Therapeutics in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective on the stock. Finally, Robert W. Baird initiated coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and an average target price of $20.43.

Larimar Therapeutics Stock Up 0.8 %

Larimar Therapeutics stock opened at $4.01 on Friday. The business has a 50 day moving average price of $6.91 and a two-hundred day moving average price of $7.62. Larimar Therapeutics, Inc. has a 12 month low of $3.01 and a 12 month high of $13.68. The stock has a market cap of $255.87 million, a price-to-earnings ratio of -3.49 and a beta of 0.86.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same quarter in the prior year, the company earned ($0.21) EPS. On average, analysts expect that Larimar Therapeutics, Inc. will post -1.16 earnings per share for the current fiscal year.

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.