Larimar Therapeutics, Inc. (NASDAQ:LRMR) Stock Position Decreased by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP lowered its stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,859,468 shares of the company’s stock after selling 135,000 shares during the period. Larimar Therapeutics accounts for about 7.8% of Blue Owl Capital Holdings LP’s holdings, making the stock its 5th largest holding. Blue Owl Capital Holdings LP owned 6.05% of Larimar Therapeutics worth $27,981,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new position in Larimar Therapeutics in the 2nd quarter valued at approximately $120,000. Millennium Management LLC lifted its position in Larimar Therapeutics by 30.2% in the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock valued at $7,381,000 after acquiring an additional 235,865 shares in the last quarter. AQR Capital Management LLC bought a new position in Larimar Therapeutics in the 2nd quarter valued at approximately $113,000. Squarepoint Ops LLC lifted its position in Larimar Therapeutics by 174.6% in the 2nd quarter. Squarepoint Ops LLC now owns 29,858 shares of the company’s stock valued at $216,000 after acquiring an additional 69,858 shares in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in Larimar Therapeutics in the 2nd quarter valued at approximately $94,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LRMR shares. JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a research report on Friday, May 31st. Robert W. Baird began coverage on Larimar Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Larimar Therapeutics has a consensus rating of “Buy” and an average target price of $20.00.

Larimar Therapeutics Price Performance

NASDAQ LRMR opened at $6.57 on Friday. The business’s fifty day moving average price is $7.76 and its 200-day moving average price is $7.89. The stock has a market capitalization of $419.23 million, a price-to-earnings ratio of -6.77 and a beta of 0.99. Larimar Therapeutics, Inc. has a 1-year low of $2.18 and a 1-year high of $13.68.

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). Equities research analysts anticipate that Larimar Therapeutics, Inc. will post -1.4 EPS for the current year.

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.