Mangrove Partners Reduces Stake in Larimar Therapeutics

Hedge fund sells over 327,000 shares of biotech company

Mar. 14, 2026 at 10:56am

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Mangrove Partners IM LLC, a hedge fund, decreased its position in Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 42.6% during the third quarter, according to a disclosure filed with the Securities and Exchange Commission. The firm sold 327,997 shares, leaving it with 442,236 shares, or approximately 0.53% ownership of the company.

Why it matters

This transaction represents a significant reduction in Mangrove Partners' stake in Larimar Therapeutics, a clinical-stage biotech company focused on developing treatments for rare diseases. The sale could signal a shift in the hedge fund's investment strategy or outlook on the company's prospects.

The details

According to the filing, Mangrove Partners IM LLC now owns 442,236 shares of Larimar Therapeutics, worth approximately $1.4 million at the end of the third quarter. The firm had previously owned 770,233 shares, indicating it sold over 42% of its position. Larimar Therapeutics is a Bala Cynwyd, Pennsylvania-based company developing treatments for rare genetic diseases, with its lead product candidate CTI-1601 currently in Phase 2 clinical trials for Friedreich's ataxia.

  • Mangrove Partners IM LLC decreased its position in Larimar Therapeutics during the third quarter of 2026.

The players

Mangrove Partners IM LLC

A hedge fund that previously held a significant stake in Larimar Therapeutics.

Larimar Therapeutics, Inc.

A clinical-stage biotech company focused on developing treatments for rare genetic diseases, based in Bala Cynwyd, Pennsylvania.

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The takeaway

This transaction highlights the volatility and uncertainty that can exist in the biotech investment landscape, as a major hedge fund reduces its position in a clinical-stage company. It underscores the importance for investors to closely monitor developments and shifts in institutional ownership when evaluating investments in the sector.