Wealth Enhancement Advisory Services LLC Takes $44,000 Position in Larimar Therapeutics, Inc. $LRMR

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the second quarter, Holdings Channel reports. The institutional investor acquired 13,629 shares of the company’s stock, valued at approximately $44,000.

A number of other large investors have also recently made changes to their positions in LRMR. Bank of America Corp DE lifted its position in Larimar Therapeutics by 8.1% during the fourth quarter. Bank of America Corp DE now owns 53,190 shares of the company’s stock valued at $206,000 after purchasing an additional 3,980 shares during the period. American Century Companies Inc. lifted its position in Larimar Therapeutics by 14.2% during the first quarter. American Century Companies Inc. now owns 64,284 shares of the company’s stock valued at $138,000 after purchasing an additional 7,990 shares during the period. Rhumbline Advisers lifted its position in Larimar Therapeutics by 15.7% during the first quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock valued at $140,000 after purchasing an additional 8,818 shares during the period. Velan Capital Investment Management LP lifted its position in Larimar Therapeutics by 55.6% during the first quarter. Velan Capital Investment Management LP now owns 28,000 shares of the company’s stock valued at $60,000 after purchasing an additional 10,000 shares during the period. Finally, Algert Global LLC lifted its position in Larimar Therapeutics by 91.0% during the first quarter. Algert Global LLC now owns 23,280 shares of the company’s stock valued at $50,000 after purchasing an additional 11,090 shares during the period. 91.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Larimar Therapeutics

In related news, Director James E. Flynn purchased 9,375,000 shares of Larimar Therapeutics stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $3.20 per share, for a total transaction of $30,000,000.00. Following the transaction, the director directly owned 9,538,945 shares in the company, valued at approximately $30,524,624. This trade represents a 5,718.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.50% of the company’s stock.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock opened at $4.36 on Monday. The firm has a 50-day simple moving average of $4.04 and a two-hundred day simple moving average of $3.09. The company has a market cap of $360.92 million, a P/E ratio of -2.79 and a beta of 1.00. Larimar Therapeutics, Inc. has a fifty-two week low of $1.61 and a fifty-two week high of $9.50.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.06. Equities research analysts forecast that Larimar Therapeutics, Inc. will post -1.15 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on LRMR shares. Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Wednesday, October 8th. JMP Securities decreased their target price on shares of Larimar Therapeutics from $22.00 to $18.00 and set a “market outperform” rating for the company in a research report on Friday, August 15th. Wedbush decreased their target price on shares of Larimar Therapeutics from $15.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th. Finally, Robert W. Baird decreased their target price on shares of Larimar Therapeutics from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Larimar Therapeutics Profile

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare diseases using its novel cell penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in Phase 2 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease.