AIGH Capital Management LLC Takes $3.23 Million Position in Larimar Therapeutics, Inc. $LRMR

AIGH Capital Management LLC bought a new position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,000,000 shares of the company’s stock, valued at approximately $3,230,000. Larimar Therapeutics accounts for about 0.9% of AIGH Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. AIGH Capital Management LLC owned approximately 1.21% of Larimar Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Savant Capital LLC purchased a new stake in Larimar Therapeutics in the second quarter worth about $39,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Larimar Therapeutics during the 2nd quarter valued at approximately $44,000. CWM LLC increased its holdings in Larimar Therapeutics by 205.0% in the 2nd quarter. CWM LLC now owns 32,652 shares of the company’s stock worth $94,000 after acquiring an additional 21,948 shares in the last quarter. Velan Capital Investment Management LP raised its stake in Larimar Therapeutics by 17.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock worth $95,000 after acquiring an additional 5,000 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Larimar Therapeutics during the first quarter valued at approximately $113,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Larimar Therapeutics Stock Up 7.0%

LRMR opened at $3.69 on Friday. The company has a market capitalization of $305.46 million, a PE ratio of -1.91 and a beta of 1.06. The firm has a 50-day simple moving average of $3.59 and a two-hundred day simple moving average of $3.78. Larimar Therapeutics, Inc. has a 52 week low of $1.61 and a 52 week high of $5.37.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Wednesday, October 8th. Wedbush decreased their price target on Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, September 30th. Oppenheimer lowered their price objective on Larimar Therapeutics from $26.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, October 2nd. Finally, Robert W. Baird dropped their price objective on Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.71.

Larimar Therapeutics 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.