Analysts Set Larimar Therapeutics, Inc. (NASDAQ:LRMR) Target Price at $16.50

Shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

LRMR has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, January 22nd. Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th.

Institutional Investors Weigh In On Larimar Therapeutics

Institutional investors have recently bought and sold shares of the stock. State Street Corp grew its position in Larimar Therapeutics by 2.2% during the 4th quarter. State Street Corp now owns 911,925 shares of the company’s stock worth $3,474,000 after acquiring an additional 20,056 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Larimar Therapeutics by 48.0% in the fourth quarter. Wells Fargo & Company MN now owns 56,897 shares of the company’s stock worth $217,000 after buying an additional 18,457 shares during the period. Jane Street Group LLC increased its stake in shares of Larimar Therapeutics by 53.5% in the fourth quarter. Jane Street Group LLC now owns 678,942 shares of the company’s stock worth $2,587,000 after buying an additional 236,530 shares during the period. Commonwealth Equity Services LLC bought a new stake in Larimar Therapeutics during the 4th quarter valued at $87,000. Finally, Dimensional Fund Advisors LP boosted its position in Larimar Therapeutics by 482.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 327,494 shares of the company’s stock valued at $1,248,000 after buying an additional 271,237 shares during the period. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Trading Down 1.9%

Shares of Larimar Therapeutics stock opened at $3.15 on Wednesday. The firm has a market capitalization of $260.76 million, a PE ratio of -1.63 and a beta of 1.01. The business’s 50-day moving average price is $3.55 and its 200-day moving average price is $3.78. Larimar Therapeutics has a 12 month low of $1.61 and a 12 month high of $5.37.

About Larimar Therapeutics

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.