Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Update

Larimar Therapeutics, Inc. (NASDAQ:LRMR) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 3,310,000 shares, a growth of 21.7% from the October 31st total of 2,720,000 shares. Based on an average daily volume of 719,700 shares, the days-to-cover ratio is currently 4.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LRMR. Janus Henderson Group PLC raised its holdings in Larimar Therapeutics by 27.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,566,855 shares of the company’s stock valued at $36,379,000 after acquiring an additional 1,189,467 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Larimar Therapeutics by 62.7% during the 1st quarter. Vanguard Group Inc. now owns 2,367,701 shares of the company’s stock worth $17,971,000 after buying an additional 912,458 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Larimar Therapeutics by 30.2% during the 2nd quarter. Millennium Management LLC now owns 1,018,135 shares of the company’s stock worth $7,381,000 after buying an additional 235,865 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Larimar Therapeutics by 20.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,314,106 shares of the company’s stock worth $9,527,000 after buying an additional 225,879 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Larimar Therapeutics by 37.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 603,581 shares of the company’s stock worth $4,376,000 after buying an additional 165,181 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Down 0.9 %

Shares of Larimar Therapeutics stock traded down $0.06 during trading on Monday, hitting $6.27. 169,968 shares of the company were exchanged, compared to its average volume of 583,954. Larimar Therapeutics has a fifty-two week low of $3.34 and a fifty-two week high of $13.68. The stock has a market capitalization of $400.09 million, a price-to-earnings ratio of -5.50 and a beta of 0.86. The firm has a 50 day moving average price of $7.20 and a 200 day moving average price of $7.82.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data 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 period last year, the company earned ($0.21) EPS. Analysts predict that Larimar Therapeutics will post -1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LRMR. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Larimar Therapeutics in a research report on Monday, November 18th. Baird R W raised Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Robert W. Baird assumed coverage on Larimar Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective for the company. William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 19th. Finally, Wedbush started coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 price target on the stock. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and an average price target of $20.43.

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.