Larimar Therapeutics, Inc. (NASDAQ:LRMR) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 21.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 19,723 shares of the company’s stock after buying an additional 3,549 shares during the period. Franklin Resources Inc.’s holdings in Larimar Therapeutics were worth $143,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Quarry LP raised its position in shares of Larimar Therapeutics by 50.0% in the third quarter. Quarry LP now owns 12,000 shares of the company’s stock valued at $79,000 after buying an additional 4,000 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Larimar Therapeutics by 171.1% in the 3rd 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. Virtu Financial LLC acquired a new position in Larimar Therapeutics in the third quarter valued at $71,000. Intech Investment Management LLC acquired a new stake in Larimar Therapeutics during the third quarter worth about $85,000. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Larimar Therapeutics in the 2nd quarter worth about $94,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Analyst Upgrades and Downgrades

LRMR has been the subject of several research reports. William Blair reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Wedbush assumed 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 reaffirmed a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a report on Monday, December 16th. Finally, Oppenheimer started coverage on shares of Larimar Therapeutics in a report on Wednesday, October 16th. They issued an “outperform” rating and a $26.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics Stock Performance

Shares of NASDAQ 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. The business’s 50-day simple moving average is $6.32 and its 200-day simple moving average is $7.29. Larimar Therapeutics, Inc. has a 52 week low of $3.01 and a 52 week high of $13.68.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.13. During the same quarter last year, the business earned ($0.21) earnings per share. As a group, equities research analysts forecast that Larimar Therapeutics, Inc. will post -1.16 earnings per share 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.