Investors Buy Large Volume of Larimar Therapeutics Call Options (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the target of some unusual options trading activity on Friday. Investors purchased 3,011 call options on the company. This represents an increase of approximately 250% compared to the average daily volume of 861 call options.

Larimar Therapeutics Stock Down 3.8%

Larimar Therapeutics stock opened at $4.59 on Friday. The firm has a market capitalization of $475.48 million, a PE ratio of -2.38 and a beta of 0.91. Larimar Therapeutics has a 52 week low of $1.61 and a 52 week high of $6.42. The firm’s 50-day simple moving average is $3.85 and its 200 day simple moving average is $3.90.

Insider Activity at Larimar Therapeutics

In related news, Director James E. Flynn acquired 5,000,000 shares of Larimar Therapeutics stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director directly owned 10,622,957 shares of the company’s stock, valued at approximately $53,114,785. This trade represents a 88.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Trading of Larimar Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC acquired a new stake in shares of Larimar Therapeutics in the first quarter valued at approximately $241,000. Acadian Asset Management LLC purchased a new stake in Larimar Therapeutics in the 1st quarter valued at approximately $113,000. Rhumbline Advisers lifted its stake in Larimar Therapeutics by 15.7% in the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock valued at $140,000 after buying an additional 8,818 shares in the last quarter. Savant Capital LLC acquired a new stake in Larimar Therapeutics during the 2nd quarter valued at $39,000. Finally, American Century Companies Inc. grew its holdings in Larimar Therapeutics by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after buying an additional 5,001 shares during the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LRMR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Citigroup boosted their price target on Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Lifesci Capital upgraded Larimar Therapeutics to a “strong-buy” rating in a report on Tuesday, February 24th. Leerink Partners raised Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Finally, Wedbush lifted their price objective on Larimar Therapeutics from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $16.29.

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