Thoroughbred Financial Services LLC Acquires New Position in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Thoroughbred Financial Services LLC bought a new position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 13,100 shares of the company’s stock, valued at approximately $94,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Larimar Therapeutics by 62.7% during the first 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 during the period. Janus Henderson Group PLC boosted its position 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 worth $30,459,000 after purchasing an additional 1,379,900 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Larimar Therapeutics during the 1st quarter worth $133,000. Ballentine Partners LLC purchased a new position in shares of Larimar Therapeutics in the 2nd quarter valued at about $137,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Larimar Therapeutics in the first quarter valued at about $106,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Price Performance

LRMR stock opened at $6.85 on Thursday. The company’s 50 day simple moving average is $8.24 and its 200-day simple moving average is $8.06. Larimar Therapeutics, Inc. has a 12 month low of $2.18 and a 12 month high of $13.68. The firm has a market capitalization of $437.10 million, a PE ratio of -7.06 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, August 7th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). As a group, sell-side analysts anticipate that Larimar Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on LRMR. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 target price on the stock. Citigroup upped their price target on Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price objective on shares of Larimar Therapeutics in a report on Friday, May 31st. Finally, Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 4th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $20.00.

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.