Verition Fund Management LLC grew its position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR – Get Rating) by 80.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 424,599 shares of the company’s stock after purchasing an additional 188,764 shares during the quarter. Verition Fund Management LLC owned 2.40% of Larimar Therapeutics worth $1,720,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Golden State Equity Partners increased its position in shares of Larimar Therapeutics by 21.6% during the 1st quarter. Golden State Equity Partners now owns 30,415 shares of the company’s stock valued at $123,000 after purchasing an additional 5,400 shares during the period. Ghost Tree Capital LLC boosted its stake in shares of Larimar Therapeutics by 12.5% during the 4th quarter. Ghost Tree Capital LLC now owns 225,000 shares of the company’s stock worth $2,428,000 after acquiring an additional 25,000 shares in the last quarter. Opaleye Management Inc. boosted its stake in shares of Larimar Therapeutics by 6.1% during the 4th quarter. Opaleye Management Inc. now owns 883,602 shares of the company’s stock worth $9,534,000 after acquiring an additional 50,795 shares in the last quarter. Finally, DAFNA Capital Management LLC boosted its stake in shares of Larimar Therapeutics by 8.8% during the 4th quarter. DAFNA Capital Management LLC now owns 70,177 shares of the company’s stock worth $757,000 after acquiring an additional 5,690 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.
Larimar Therapeutics Trading Up 0.6 %
Shares of LRMR stock opened at $3.22 on Tuesday. Larimar Therapeutics, Inc. has a 1-year low of $1.53 and a 1-year high of $13.69. The company has a market capitalization of $57.03 million, a price-to-earnings ratio of -1.35 and a beta of 0.95. The stock’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.88.
In other Larimar Therapeutics news, CFO Michael Celano purchased 31,746 shares of the stock in a transaction dated Friday, September 16th. The shares were acquired at an average price of $3.15 per share, for a total transaction of $99,999.90. Following the completion of the acquisition, the chief financial officer now owns 31,746 shares of the company’s stock, valued at approximately $99,999.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.67% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. William Blair raised Larimar Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Monday. Lifesci Capital raised Larimar Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, August 12th. Finally, JMP Securities raised their price objective on Larimar Therapeutics from $10.00 to $16.00 and gave the stock a “market outperform” rating in a research note on Monday.
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 1 clinical trial for the treatment of Friedreich's ataxia, a rare, progressive, and fatal genetic disease.
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