Larimar Therapeutics (NASDAQ:LRMR) COO John Jr. Harlow Acquires 17,800 Shares of Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) COO John Jr. Harlow acquired 17,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average cost of $2.80 per share, for a total transaction of $49,840.00. Following the completion of the purchase, the chief operating officer directly owned 67,800 shares in the company, valued at $189,840. This represents a 35.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Larimar Therapeutics Stock Performance

LRMR opened at $2.70 on Friday. The business has a 50 day moving average price of $2.95 and a 200 day moving average price of $3.76. Larimar Therapeutics, Inc. has a twelve month low of $1.91 and a twelve month high of $6.42. The firm has a market cap of $280.48 million, a P/E ratio of -1.38 and a beta of 0.73.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LRMR. AIGH Capital Management LLC bought a new stake in Larimar Therapeutics in the 3rd quarter valued at $5,911,000. WINTON GROUP Ltd acquired a new stake in Larimar Therapeutics in the 2nd quarter worth $160,000. Engineers Gate Manager LP acquired a new stake in Larimar Therapeutics in the 2nd quarter worth $69,000. Integrated Wealth Concepts LLC bought a new position in shares of Larimar Therapeutics during the 2nd quarter worth about $27,000. Finally, Squarepoint Ops LLC bought a new position in Larimar Therapeutics during the second quarter valued at about $346,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics News Roundup

These are some of the LRMR news items that stood out recently:

• 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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LRMR. Wedbush reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, October 15th. Finally, Leerink Partners began coverage on shares of Larimar Therapeutics in a report on Monday, September 14th. They issued an “outperform” rating and a $13.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $10.33.

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.