Ikarian Capital LLC Sells 265,000 Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Ikarian Capital LLC lessened its stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 81.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,528 shares of the company’s stock after selling 265,000 shares during the quarter. Ikarian Capital LLC owned approximately 0.09% of Larimar Therapeutics worth $383,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quarry LP lifted its holdings in Larimar Therapeutics by 966.7% during the second quarter. Quarry LP now owns 8,000 shares of the company’s stock worth $58,000 after acquiring an additional 7,250 shares during the period. Quest Partners LLC lifted its holdings in Larimar Therapeutics by 171.1% during the third quarter. Quest Partners LLC now owns 9,183 shares of the company’s stock worth $60,000 after acquiring an additional 5,796 shares during the period. Intech Investment Management LLC bought a new stake in Larimar Therapeutics during the third quarter worth $85,000. Thoroughbred Financial Services LLC bought a new stake in Larimar Therapeutics during the second quarter worth $94,000. Finally, SG Americas Securities LLC bought a new stake in Larimar Therapeutics during the third quarter worth $94,000. 91.92% of the stock is currently owned by institutional investors.

Larimar Therapeutics Price Performance

Shares of NASDAQ LRMR traded down $0.13 during mid-day trading on Tuesday, hitting $6.20. The company had a trading volume of 6,552 shares, compared to its average volume of 583,652. Larimar Therapeutics, Inc. has a 1 year low of $3.34 and a 1 year high of $13.68. The stock’s 50-day moving average price is $7.20 and its 200-day moving average price is $7.82.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. During the same period in the previous year, the firm earned ($0.21) earnings per share. Equities research analysts anticipate that Larimar Therapeutics, Inc. will post -1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on LRMR shares. Oppenheimer started coverage on Larimar Therapeutics in a report on Wednesday, October 16th. They set an “outperform” rating and a $26.00 price target on the stock. Wedbush started coverage on Larimar Therapeutics in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $22.00 target price on the stock. Baird R W upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 4th. William Blair restated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 19th. Finally, HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Larimar Therapeutics in a research note on Monday, November 18th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $20.43.

Larimar Therapeutics 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.