OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 14,240 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 7.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 188,543 shares of the company’s stock after selling 14,240 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.30% of Larimar Therapeutics worth $730,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in Larimar Therapeutics by 15.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock valued at $24,936,000 after purchasing an additional 876,431 shares in the last quarter. Blue Owl Capital Holdings LP raised its position in shares of Larimar Therapeutics by 11.7% in the 4th quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock valued at $18,007,000 after buying an additional 486,211 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Larimar Therapeutics by 23.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock worth $8,127,000 after acquiring an additional 399,123 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of Larimar Therapeutics by 38.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 984,077 shares of the company’s stock worth $3,808,000 after acquiring an additional 273,920 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Larimar Therapeutics by 45.1% during the 4th quarter. Renaissance Technologies LLC now owns 513,542 shares of the company’s stock worth $1,987,000 after acquiring an additional 159,700 shares in the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Performance

LRMR stock opened at $1.88 on Wednesday. The company has a market capitalization of $120.37 million, a P/E ratio of -1.63 and a beta of 0.93. The company has a fifty day moving average price of $2.25 and a 200-day moving average price of $3.96. Larimar Therapeutics, Inc. has a 52-week low of $1.61 and a 52-week high of $11.20.

Larimar Therapeutics (NASDAQ:LRMR) last announced its earnings results on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, sell-side analysts forecast that Larimar Therapeutics, Inc. will post -1.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LRMR has been the subject of several research analyst reports. Truist Financial initiated coverage on shares of Larimar Therapeutics in a research report on Wednesday, January 29th. They set a “buy” rating and a $18.00 price objective for the company. HC Wainwright raised their price target on shares of Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Robert W. Baird dropped their price target on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Finally, Guggenheim restated a “buy” rating and set a $26.00 price objective on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $19.63.

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.