Larimar Therapeutics (NASDAQ:LRMR) CFO Purchases 18,460 Shares of Company Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) CFO Michael Celano purchased 18,460 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was acquired at an average cost of $2.71 per share, for a total transaction of $50,026.60. Following the completion of the acquisition, the chief financial officer owned 234,245 shares in the company, valued at $634,803.95. This represents a 8.55% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Larimar Therapeutics Stock Down 1.1%

LRMR stock traded down $0.03 during midday trading on Thursday, hitting $2.70. The company’s stock had a trading volume of 1,190,176 shares, compared to its average volume of 2,378,292. Larimar Therapeutics, Inc. has a 12 month low of $1.91 and a 12 month high of $6.42. The firm has a market capitalization of $280.48 million, a price-to-earnings ratio of -1.38 and a beta of 0.73. The company has a 50 day moving average of $2.97 and a two-hundred day moving average of $3.77.

Institutional Investors Weigh In On Larimar Therapeutics

Several large investors have recently made changes to their positions in the company. Sei Investments Co. lifted its position in shares of Larimar Therapeutics by 54.5% in the first quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock worth $74,000 after buying an additional 5,763 shares in the last quarter. Bank of America Corp DE boosted its stake in Larimar Therapeutics by 17.0% during the first quarter. Bank of America Corp DE now owns 47,359 shares of the company’s stock valued at $213,000 after buying an additional 6,886 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Larimar Therapeutics during the 2nd quarter valued at approximately $27,000. Pallas Capital Advisors LLC purchased a new position in Larimar Therapeutics during the 2nd quarter valued at approximately $31,000. Finally, HB Wealth Management LLC bought a new stake in Larimar Therapeutics in the 2nd quarter worth approximately $49,000. 91.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on LRMR. Wedbush reissued an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, October 15th. Finally, Leerink Partners started coverage on shares of Larimar Therapeutics in a research note on Monday, September 14th. They set an “outperform” rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and an average target price of $10.33.

About Larimar Therapeutics

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.