Short Interest in Larimar Therapeutics, Inc. (NASDAQ:LRMR) Increases By 26.0%

Larimar Therapeutics, Inc. (NASDAQ:LRMR) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,630,000 shares, an increase of 26.0% from the June 30th total of 2,880,000 shares. Based on an average daily trading volume, of 568,900 shares, the short-interest ratio is presently 6.4 days.

Analyst Upgrades and Downgrades

LRMR has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $25.00 price target on shares of Larimar Therapeutics in a research note on Friday, May 31st. SVB Leerink assumed coverage on Larimar Therapeutics in a research report on Wednesday, April 3rd. They set an “outperform” rating and a $25.00 target price on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Larimar Therapeutics in a research report on Wednesday, April 3rd. Finally, Citigroup upped their price objective on shares of Larimar Therapeutics from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Larimar Therapeutics presently has an average rating of “Buy” and a consensus price target of $21.33.

Larimar Therapeutics Stock Performance

Shares of NASDAQ:LRMR opened at $9.52 on Friday. Larimar Therapeutics has a 1-year low of $2.18 and a 1-year high of $13.68. The stock’s fifty day simple moving average is $8.55 and its two-hundred day simple moving average is $8.05.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). As a group, research analysts expect that Larimar Therapeutics will post -1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Larimar Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Larimar Therapeutics by 57.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock worth $978,000 after acquiring an additional 49,102 shares during the period. Virtu Financial LLC bought a new position in shares of Larimar Therapeutics in the first quarter worth $133,000. RA Capital Management L.P. bought a new stake in Larimar Therapeutics during the first quarter valued at $45,884,000. Janus Henderson Group PLC grew its stake in Larimar Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 4,020,965 shares of the company’s stock worth $30,459,000 after buying an additional 1,379,900 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth about $106,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

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.