Verition Fund Management LLC Has $6.10 Million Stock Holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR)

Posted by Defense World Staff on Jun 13th, 2023

Verition Fund Management LLC boosted its position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR – Get Rating) by 6.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,476,224 shares of the company’s stock after buying an additional 84,888 shares during the quarter. Verition Fund Management LLC owned approximately 8.34% of Larimar Therapeutics worth $6,097,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LRMR. Two Sigma Investments LP lifted its stake in shares of Larimar Therapeutics by 54.6% in the 4th quarter. Two Sigma Investments LP now owns 117,414 shares of the company’s stock valued at $485,000 after purchasing an additional 41,472 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in shares of Larimar Therapeutics in the 4th quarter valued at $63,000. Geode Capital Management LLC lifted its stake in shares of Larimar Therapeutics by 102.6% in the 4th quarter. Geode Capital Management LLC now owns 230,791 shares of the company’s stock valued at $953,000 after purchasing an additional 116,901 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Larimar Therapeutics by 3,877.8% in the 4th quarter. JPMorgan Chase & Co. now owns 44,790 shares of the company’s stock valued at $185,000 after purchasing an additional 43,664 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Larimar Therapeutics by 186.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,485 shares of the company’s stock valued at $155,000 after purchasing an additional 24,420 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Guggenheim increased their price target on Larimar Therapeutics from $12.00 to $14.00 in a research note on Wednesday, May 17th. Citigroup lowered their price objective on shares of Larimar Therapeutics from $7.00 to $4.50 in a research report on Thursday, May 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Larimar Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Larimar Therapeutics Stock Performance

LRMR opened at $3.78 on Tuesday. Larimar Therapeutics, Inc. has a 12 month low of $1.53 and a 12 month high of $6.85. The company has a fifty day simple moving average of $4.26 and a 200 day simple moving average of $4.63.

Larimar Therapeutics (NASDAQ:LRMR – Get Rating) last released its earnings results on Monday, May 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. On average, analysts forecast that Larimar Therapeutics, Inc. will post -0.9 EPS for the current fiscal year.

About Larimar Therapeutics

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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 clinical trial for the treatment of Friedreich's ataxia, a rare, progressive, and fatal genetic disease.