Quest Partners LLC Expands Investment in Larimar Therapeutics, Inc.

Quest Partners LLC significantly increased its holdings in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 171.1% during the third quarter, as reported in their latest 13F filing with the Securities and Exchange Commission (SEC). The firm now owns 9,183 shares of Larimar Therapeutics after acquiring an additional 5,796 shares during this period. As of the most recent filing, these shares are valued at approximately $60,000.

Other hedge funds have also adjusted their positions in Larimar Therapeutics. Quarry LP raised its holdings by a remarkable 966.7% in the second quarter, bringing its total to 8,000 shares worth about $58,000 after purchasing an extra 7,250 shares. In the same quarter, Thoroughbred Financial Services LLC made a new investment in Larimar Therapeutics valued at $94,000. Additionally, SG Americas Securities LLC and AQR Capital Management LLC acquired new positions in the third and second quarters, respectively, each valued at $94,000 and $113,000. The Manufacturers Life Insurance Company also joined in by purchasing a stake worth $120,000 in the second quarter. Currently, institutional investors, including hedge funds, hold about 91.92% of the company's stock.

Analyst Ratings and Forecasts

Recent reports from several brokerages have focused on Larimar Therapeutics. Robert W. Baird initiated coverage on September 4, giving an “outperform” rating with a price target of $16.00. In the same week, Baird R W upgraded the company to a “strong-buy” rating. Additionally, HC Wainwright maintained a “buy” rating and set a price target of $15.00 on November 18. Oppenheimer began coverage with an “outperform” rating, assigning a price goal of $26.00. Meanwhile, William Blair reaffirmed an “outperform” rating on November 19. Overall, ten analysts have recommended buying the stock, with an average rating of “Buy” and a consensus price target of $20.43, as per MarketBeat.com.

Current Stock Performance

As of the most recent trading session, Larimar Therapeutics stock opened at $6.33. The company’s 50-day moving average stands at $7.20, while the 200-day moving average is at $7.82. The total market capitalization of Larimar Therapeutics, Inc. is approximately $403.92 million, with a price-to-earnings (PE) ratio of -5.50, and a beta of 0.95. The stock has seen a low of $3.27 and a high of $13.68 over the past year.

Larimar Therapeutics reported its latest earnings on October 30, revealing an earnings per share (EPS) of ($0.24), which surpassed analysts’ consensus estimates of ($0.37) by a margin of $0.13. This performance represents a slight decline from the previous year's EPS of ($0.21). Analysts predict that Larimar Therapeutics will report an EPS of -1.16 for the current fiscal year.

Company Overview

Larimar Therapeutics, Inc. is a clinical-stage biotechnology company dedicated to developing innovative treatments for rare diseases through its unique cell-penetrating peptide technology platform. The company's standout candidate is CTI-1601, which is currently undergoing a Phase 2 Open-Label Extension (OLE) clinical trial targeting Friedreich's ataxia, a rare and severe genetic disorder.

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