Ballentine Partners LLC invests $137,000 in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Ballentine Partners LLC purchased a new position in Larimar Therapeutics, Inc. (NASDAQ:LRMR – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 18,852 shares of the company’s stock, valued at approximately $137,000.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Larimar Therapeutics in the 1st quarter valued at about $106,000. Virtu Financial LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth about $133,000. Rhumbline Advisers boosted its holdings in shares of Larimar Therapeutics by 74.6% in the second quarter. Rhumbline Advisers now owns 54,936 shares of the company’s stock worth $398,000 after purchasing an additional 23,475 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Larimar Therapeutics by 57.2% in the second quarter. Bank of New York Mellon Corp now owns 134,877 shares of the company’s stock worth $978,000 after buying an additional 49,102 shares in the last quarter. Finally, Assenagon Asset Management SA acquired a new position in shares of Larimar Therapeutics in the 1st quarter worth approximately $4,829,000. 91.92% of shares are currently owned by institutional investors.

The Wall Street analyst weighs in

LRMR has been the subject of a number of research reports. Baird RW raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and issued a $25.00 price objective on shares of Larimar Therapeutics in a report on Friday, May 31st. Robert W. Baird initiated coverage on shares of Larimar Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Citigroup raised their target price on shares of Larimar Therapeutics from $10.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.00, based on data from MarketBeat.

Get the latest analysis on LRMR

Larimar Therapeutics Stock Performance

LRMR opened at $7.24 on Friday. Larimar Therapeutics, Inc. it has a fifty-two week low of $2.18 and a fifty-two week high of $13.68. The company’s fifty day moving average is $8.36 and its 200 day moving average is $8.22. The stock has a market cap of $461.93 million, a price-to-earnings ratio of -7.46 and a beta of 0.99.

Larimar Therapeutics (NASDAQ:LRMR – Get Your Free Report ) last issued its earnings results on Wednesday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). On average, equities research analysts predict that Larimar Therapeutics, Inc. will post -1.4 earnings per share for the current year.

Larimar Therapeutics Company Profile

(Free Report)

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, is focused on developing treatments for rare diseases using its novel cell-penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in the Phase 2 OLE clinical trial for the treatment of Friedreichs ataxia, a rare, progressive and fatal genetic disease.

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