Thomas Edward Hamilton Buys 50,000 Shares of Larimar Therapeutics (NASDAQ:LRMR) Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Thomas Edward Hamilton bought 50,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was bought at an average cost of $3.34 per share, for a total transaction of $167,000.00. Following the completion of the transaction, the director directly owned 714,798 shares of the company’s stock, valued at $2,387,425.32. This trade represents a 7.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Larimar Therapeutics Stock Performance

Shares of LRMR opened at $4.13 on Friday. Larimar Therapeutics, Inc. has a 1 year low of $2.71 and a 1 year high of $6.42. The company has a market cap of $429.02 million, a price-to-earnings ratio of -2.00 and a beta of 0.83. The firm has a fifty day moving average of $3.58 and a 200-day moving average of $3.94.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.22. Analysts predict that Larimar Therapeutics, Inc. will post -1.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LRMR. Deerfield Management Company L.P. raised its holdings in shares of Larimar Therapeutics by 44.2% during the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock valued at $98,861,000 after acquiring an additional 9,375,000 shares during the period. Blue Owl Capital Holdings LP boosted its stake in Larimar Therapeutics by 16.6% in the 4th quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock worth $25,998,000 after purchasing an additional 970,650 shares during the period. Millennium Management LLC grew its position in Larimar Therapeutics by 7.2% during the 4th quarter. Millennium Management LLC now owns 5,206,364 shares of the company’s stock worth $19,836,000 after purchasing an additional 349,533 shares in the last quarter. Opaleye Management Inc. grew its position in Larimar Therapeutics by 114.7% during the 2nd quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock worth $11,878,000 after purchasing an additional 2,195,923 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Larimar Therapeutics by 44.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,087,840 shares of the company’s stock worth $9,974,000 after purchasing an additional 945,809 shares in the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on LRMR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. HC Wainwright initiated coverage on Larimar Therapeutics in a research report on Thursday, July 2nd. They set a “buy” rating and a $10.00 price objective for the company. JPMorgan Chase & Co. began coverage on Larimar Therapeutics in a report on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 price objective for the company. Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $12.71.

About Larimar Therapeutics

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. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.