Stock Traders Buy High Volume of Call Options on Larimar Therapeutics (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 50,342 call options on the company. This is an increase of 34,381% compared to the average daily volume of 146 call options.

Larimar Therapeutics Trading Up 7.9 %

NASDAQ:LRMR opened at $2.86 on Friday. The company has a market cap of $183.12 million, a PE ratio of -2.49 and a beta of 0.91. Larimar Therapeutics has a twelve month low of $1.61 and a twelve month high of $11.20. The company’s 50 day moving average is $2.36 and its two-hundred day moving average is $4.28.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, analysts expect that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

Institutional Trading of Larimar Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in shares of Larimar Therapeutics by 321.2% in the third quarter. Barclays PLC now owns 60,032 shares of the company’s stock valued at $393,000 after buying an additional 45,781 shares in the last quarter. SG Americas Securities LLC raised its holdings in Larimar Therapeutics by 35.1% during the fourth quarter. SG Americas Securities LLC now owns 19,391 shares of the company’s stock worth $75,000 after purchasing an additional 5,042 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Larimar Therapeutics by 21.9% during the third quarter. Franklin Resources Inc. now owns 19,723 shares of the company’s stock worth $143,000 after purchasing an additional 3,549 shares during the last quarter. Jane Street Group LLC boosted its stake in Larimar Therapeutics by 80.1% during the 3rd quarter. Jane Street Group LLC now owns 113,783 shares of the company’s stock worth $745,000 after purchasing an additional 50,622 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Larimar Therapeutics by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,771 shares of the company’s stock valued at $143,000 after acquiring an additional 3,425 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LRMR. HC Wainwright boosted their target price on Larimar Therapeutics from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Truist Financial initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, January 29th. They issued a “buy” rating and a $18.00 price target on the stock. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, March 25th. Robert W. Baird cut their target price on shares of Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Finally, Guggenheim restated a “buy” rating and set a $26.00 target price on shares of Larimar Therapeutics in a report on Tuesday, March 25th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Larimar Therapeutics presently has an average rating of “Buy” and a consensus target price of $19.63.

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.