Larimar Therapeutics, Inc. (NASDAQ:LRMR) Short Interest Update

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the target of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 6,370,000 shares, a decrease of 35.2% from the May 15th total of 9,830,000 shares. Approximately 10.3% of the shares of the company are short sold. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is currently 5.4 days.

Institutional Trading of Larimar Therapeutics

Several large investors have recently made changes to their positions in LRMR. Janus Henderson Group PLC grew its holdings in shares of Larimar Therapeutics by 15.7% during the fourth quarter. Janus Henderson Group PLC now owns 6,443,286 shares of the company’s stock worth $24,936,000 after purchasing an additional 876,431 shares during the last quarter. Blue Owl Capital Holdings LP boosted its holdings in Larimar Therapeutics by 11.7% in the fourth quarter. Blue Owl Capital Holdings LP now owns 4,653,040 shares of the company’s stock valued at $18,007,000 after acquiring an additional 486,211 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in Larimar Therapeutics by 46.6% in the first quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company’s stock valued at $3,101,000 after acquiring an additional 458,396 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Larimar Therapeutics by 23.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,100,000 shares of the company’s stock valued at $8,127,000 after acquiring an additional 399,123 shares during the last quarter. Finally, Nuveen LLC bought a new position in Larimar Therapeutics in the first quarter valued at about $376,000. Institutional investors own 91.92% of the company’s stock.

Analyst Ratings Changes

LRMR has been the subject of a number of recent research reports. HC Wainwright upped 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. Citigroup reiterated a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Robert W. Baird lowered their price target on Larimar Therapeutics from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Finally, Guggenheim reiterated a “buy” rating and issued a $26.00 price target on shares of Larimar Therapeutics in a research report on Tuesday, March 25th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $19.67.

Larimar Therapeutics Stock Performance

Shares of LRMR stock opened at $2.88 on Monday. The stock’s fifty day moving average is $2.21 and its 200-day moving average is $3.11. The stock has a market capitalization of $184.40 million, a PE ratio of -2.50 and a beta of 0.79. Larimar Therapeutics has a 52 week low of $1.61 and a 52 week high of $11.20.

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

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.