Assenagon Asset Management S.A. Sells 383,554 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Assenagon Asset Management S.A. lessened its holdings in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 62.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,475 shares of the company’s stock after selling 383,554 shares during the quarter. Assenagon Asset Management S.A. owned 0.35% of Larimar Therapeutics worth $1,483,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Quarry LP increased its position in shares of Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after acquiring an additional 7,250 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in Larimar Therapeutics during the 2nd quarter valued at about $94,000. EntryPoint Capital LLC bought a new stake in Larimar Therapeutics during the 1st quarter worth approximately $106,000. SG Americas Securities LLC purchased a new stake in shares of Larimar Therapeutics in the third quarter worth approximately $94,000. Finally, AQR Capital Management LLC bought a new position in shares of Larimar Therapeutics in the second quarter valued at approximately $113,000. 91.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Larimar Therapeutics Stock Down 5.9 %

Shares of LRMR stock opened at $7.74 on Friday. The firm has a market cap of $493.89 million, a P/E ratio of -6.73 and a beta of 0.98. The company has a 50 day moving average of $7.34 and a 200-day moving average of $7.81. Larimar Therapeutics, Inc. has a 12-month low of $2.18 and a 12-month high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last released its earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. During the same period in the previous year, the company earned ($0.21) earnings per share. As a group, equities analysts expect that Larimar Therapeutics, Inc. will post -1.38 EPS for the current year.

Larimar Therapeutics 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.