Short Interest in Larimar Therapeutics, Inc. (NASDAQ:LRMR) Decreases By 19.2%

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 7,922,334 shares, a decline of 19.2% from the November 30th total of 9,804,662 shares. Approximately 10.0% of the shares of the company are short sold. Based on an average trading volume of 1,359,308 shares, the days-to-cover ratio is presently 5.8 days. Based on an average trading volume of 1,359,308 shares, the days-to-cover ratio is presently 5.8 days. Approximately 10.0% of the shares of the company are short sold.

Larimar Therapeutics Stock Down 2.6%

Shares of LRMR traded down $0.10 during midday trading on Wednesday, reaching $3.81. 910,311 shares of the stock were exchanged, compared to its average volume of 1,064,362. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $5.37. The company has a market cap of $315.39 million, a P/E ratio of -1.97 and a beta of 1.05. The stock’s 50 day simple moving average is $3.72 and its 200 day simple moving average is $3.74.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). As a group, analysts predict that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LRMR shares. Oppenheimer cut their price target on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Wedbush reduced their target price on shares of Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, September 30th. Robert W. Baird decreased their price target on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Larimar Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Institutional Investors Weigh In On Larimar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of Larimar Therapeutics in the first quarter valued at approximately $376,000. American Century Companies Inc. raised its holdings in Larimar Therapeutics by 14.2% in the 1st quarter. American Century Companies Inc. now owns 64,284 shares of the company’s stock valued at $138,000 after acquiring an additional 7,990 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Larimar Therapeutics during the 1st quarter valued at $37,000. Cubist Systematic Strategies LLC lifted its position in shares of Larimar Therapeutics by 51.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 354,232 shares of the company’s stock valued at $762,000 after acquiring an additional 120,359 shares during the period. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Larimar Therapeutics by 46.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company’s stock worth $3,101,000 after purchasing an additional 458,396 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.