Larimar Therapeutics (NASDAQ:LRMR) CEO Carole Ben-Maimon Acquires 18,050 Shares of Company Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) CEO Carole Ben-Maimon purchased 18,050 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were acquired at an average cost of $2.77 per share, with a total value of $49,998.50. Following the completion of the acquisition, the chief executive officer directly owned 386,326 shares in the company, valued at $1,070,123.02. The trade was a 4.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Larimar Therapeutics Stock Down 1.1%

Shares of Larimar Therapeutics stock opened at $2.70 on Friday. The firm’s 50 day moving average is $2.95 and its two-hundred day moving average is $3.76. The firm has a market capitalization of $280.48 million, a P/E ratio of -1.38 and a beta of 0.73. Larimar Therapeutics, Inc. has a 52 week low of $1.91 and a 52 week high of $6.42.

Hedge Funds Weigh In On Larimar Therapeutics

A number of hedge funds have recently made changes to their positions in LRMR. BlackRock Inc. acquired a new position in shares of Larimar Therapeutics during the second quarter worth about $17,318,000. AIGH Capital Management LLC acquired a new position in shares of Larimar Therapeutics in the 3rd quarter valued at approximately $5,911,000. Dimensional Fund Advisors LP boosted its stake in shares of Larimar Therapeutics by 143.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock valued at $3,592,000 after buying an additional 470,968 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Larimar Therapeutics by 148.9% in the 1st quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock worth $3,330,000 after purchasing an additional 442,676 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in Larimar Therapeutics during the second quarter valued at approximately $1,210,000. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LRMR shares. Leerink Partners began coverage on shares of Larimar Therapeutics in a research report on Monday, September 14th. They issued an “outperform” rating and a $13.00 price objective on the stock. Wedbush restated an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.33.

Trending Headlines about Larimar Therapeutics

Investors following LRMR have been watching these headlines:

• Positive Sentiment: Six insiders—including CEO Carole Ben-Maimon, CFO Michael Celano and COO John B. Jr. Harlow—purchased a combined 70,810 shares for about $195,000 in transactions at roughly $2.71–$2.80 per share. The purchases increased each buyer’s holdings and may support investor sentiment, though insider buying does not guarantee future performance. CFO purchase filing Insider purchase filing COO purchase filing Director purchase filing Director purchase filing CEO purchase filing
• Neutral Sentiment: H.C. Wainwright kept its Buy rating on Larimar; the report describes no rating change or new catalyst. H.C. Wainwright maintains Buy rating

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. Its lead drug candidate is nomlabofusp, formerly known as CTI-1601, an engineered fusion protein designed to deliver frataxin to mitochondria. Nomlabofusp is being developed to treat Friedreich’s ataxia, a rare, inherited neurodegenerative disorder associated with insufficient frataxin. Larimar’s approach uses a cell-penetrating peptide to transport frataxin into cells and mitochondria, with the goal of addressing an underlying cause of the disease rather than only treating its symptoms.