Larimar Therapeutics (NASDAQ:LRMR) Stock: Insider Thomas Edward Hamilton Buys 70,000 Shares

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Thomas Hamilton acquired 70,000 shares of Larimar Therapeutics stock in a transaction on Thursday, November 12th. The shares were bought at an average price of $2.67 per share, with a total value of $186,900.00. Following the completion of the transaction, the director directly owned 70,000 shares of the company’s stock, valued at $186,900. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Larimar Therapeutics Trading Up 11.9%

LRMR traded up $0.32 during midday trading on Friday, hitting $3.02. 2,531,459 shares of the company traded hands, compared to its average volume of 1,257,255. The business has a 50 day simple moving average of $2.93 and a two-hundred day simple moving average of $3.76. Larimar Therapeutics, Inc. has a 52-week low of $1.91 and a 52-week high of $6.42. The company has a market capitalization of $313.72 million, a price-to-earnings ratio of -1.55 and a beta of 0.73.

Recent Larimar Therapeutics Headlines

Investors following LRMR have been watching these headlines:

• Positive Sentiment: CEO Carole Ben-Maimon, CFO Michael Celano, COO John B. Jr. Harlow, insider Gopi Shankar, and directors Frank Thomas and Joseph Truitt together purchased 52,810 shares for roughly $195,000. Director Thomas Hamilton separately bought 70,000 shares for $186,900. Insider purchase report Hamilton SEC filing
• Neutral Sentiment: The supplied coverage also notes H.C. Wainwright maintained a Buy rating; no rating change or fresh price-moving catalyst was reported. Analyst rating report

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Larimar Therapeutics during the 2nd quarter worth $17,318,000. AIGH Capital Management LLC acquired a new position in shares of Larimar Therapeutics during the 3rd quarter valued at about $5,911,000. Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 470,968 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Larimar Therapeutics by 148.9% during the 1st quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock valued at $3,330,000 after acquiring an additional 442,676 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Larimar Therapeutics in the second quarter valued at about $1,210,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LRMR shares. Leerink Partners assumed coverage on Larimar Therapeutics in a research note on Monday, September 14th. They issued an “outperform” rating and a $13.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, October 15th. Wedbush reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday. Finally, Wall Street Zen lowered shares of Larimar Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus 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.