Jane Street Group LLC Purchases 50,622 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Jane Street Group LLC grew its holdings in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 80.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 113,783 shares of the company’s stock after buying an additional 50,622 shares during the period. Jane Street Group LLC’s holdings in Larimar Therapeutics were worth $745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its holdings in Larimar Therapeutics by 966.7% during the 2nd quarter. Quarry LP now owns 8,000 shares of the company’s stock valued at $58,000 after acquiring an additional 7,250 shares during the period. Quest Partners LLC boosted its stake in shares of 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 period. Intech Investment Management LLC bought a new position in shares of Larimar Therapeutics in the third quarter worth about $85,000. Thoroughbred Financial Services LLC purchased a new position in Larimar Therapeutics in the 2nd quarter worth about $94,000. Finally, SG Americas Securities LLC bought a new stake in Larimar Therapeutics during the 3rd quarter valued at about $94,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Up 3.6 %

LRMR opened at $4.01 on Friday. The firm has a market cap of $255.87 million, a price-to-earnings ratio of -3.49 and a beta of 0.86. Larimar Therapeutics, Inc. has a 12 month low of $3.01 and a 12 month high of $13.68. The stock has a fifty day moving average price of $6.32 and a 200-day moving average price of $7.29.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRMR. Wedbush initiated coverage on shares of Larimar Therapeutics in a research report on Thursday, October 3rd. They set an “outperform” rating and a $22.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Larimar Therapeutics in a report on Monday, December 16th. William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday, November 19th. Finally, Oppenheimer assumed coverage on Larimar Therapeutics in a research note on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $20.43.

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.