Larimar Therapeutics (NASDAQ:LRMR) Upgraded to “Strong-Buy” at Lifesci Capital

Lifesci Capital upgraded shares of Larimar Therapeutics (NASDAQ:LRMR) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

LRMR has been the subject of a number of other reports. Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $16.50.

Larimar Therapeutics Trading Up 31.3%

Shares of Larimar Therapeutics stock opened at $3.69 on Tuesday. The firm has a market cap of $305.45 million, a PE ratio of -1.91 and a beta of 1.01. The stock has a 50 day moving average of $3.44 and a 200 day moving average of $3.76. Larimar Therapeutics has a 12 month low of $1.61 and a 12 month high of $5.37.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LRMR. Deerfield Management Company L.P. lifted its holdings in shares of Larimar Therapeutics by 44.2% in the 3rd quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock worth $98,861,000 after acquiring an additional 9,375,000 shares during the last quarter. Opaleye Management Inc. raised its position in Larimar Therapeutics by 114.7% in the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock worth $11,878,000 after purchasing an additional 2,195,923 shares during the period. Woodline Partners LP raised its position in Larimar Therapeutics by 160.6% in the 3rd quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock worth $5,242,000 after purchasing an additional 1,000,168 shares during the period. AIGH Capital Management LLC bought a new stake in Larimar Therapeutics in the third quarter worth about $3,230,000. Finally, Blue Owl Capital Holdings LP boosted its position in shares of Larimar Therapeutics by 16.6% during the fourth quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock valued at $25,998,000 after buying an additional 970,650 shares during the period. Institutional investors own 91.92% of the company’s stock.

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.