Larimar Therapeutics (NASDAQ:LRMR) Stock Price Down 0.3% – Should You Sell?

Larimar Therapeutics, Inc. (NASDAQ:LRMR)’s share price fell 0.3% on Friday. The company traded as low as $1.92 and last traded at $1.9850. 1,691,963 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 1,734,102 shares. The stock had previously closed at $1.99.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LRMR. Robert W. Baird dropped their price objective on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Leerink Partners initiated coverage on Larimar Therapeutics in a report on Monday, September 14th. They issued an “outperform” rating and a $13.00 target price for the company. HC Wainwright started coverage on Larimar Therapeutics in a research note on Thursday, July 2nd. They set a “buy” rating and a $10.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday. Finally, Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $10.33.

Larimar Therapeutics Price Performance

The company has a market capitalization of $206.20 million, a PE ratio of -1.02 and a beta of 0.68. The stock has a 50-day simple moving average of $3.57 and a 200 day simple moving average of $3.80.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. As a group, research analysts predict that Larimar Therapeutics, Inc. will post -1.37 EPS for the current fiscal year.

Institutional Trading of Larimar Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in Larimar Therapeutics in the 2nd quarter worth $160,000. Engineers Gate Manager LP purchased a new stake in Larimar Therapeutics during the 2nd quarter worth approximately $69,000. Integrated Wealth Concepts LLC purchased a new stake in Larimar Therapeutics during the 2nd quarter worth approximately $27,000. Squarepoint Ops LLC acquired a new position in shares of Larimar Therapeutics in the 2nd quarter valued at approximately $346,000. Finally, Corient Private Wealth LP acquired a new position in shares of Larimar Therapeutics in the 2nd quarter valued at approximately $69,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Larimar Therapeutics Company Profile

Larimar Therapeutics, Inc is a clinical-stage biotechnology company headquartered in Bala Cynwyd, Pennsylvania, focused on developing treatments for rare diseases.