Larimar Therapeutics (NASDAQ:LRMR) Director Purchases $25,000,000.00 in Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director James Flynn bought 5,000,000 shares of Larimar Therapeutics stock in a transaction dated Friday, February 27th. The stock was acquired at an average price of $5.00 per share, with a total value of $25,000,000.00. Following the completion of the transaction, the director directly owned 10,622,957 shares of the company’s stock, valued at approximately $53,114,785. The trade was a 88.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Larimar Therapeutics Trading Down 1.1%

NASDAQ:LRMR opened at $5.45 on Thursday. The company has a market cap of $564.57 million, a P/E ratio of -2.82 and a beta of 0.91. Larimar Therapeutics, Inc. has a twelve month low of $1.61 and a twelve month high of $6.42. The company’s 50-day moving average price is $3.65 and its 200-day moving average price is $3.83.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LRMR shares. Wedbush increased their price target on Larimar Therapeutics from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Citigroup raised their target price 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 raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.29.

Hedge Funds Weigh In On Larimar Therapeutics

Large investors have recently modified their holdings of the business. CWM LLC grew its holdings in shares of Larimar Therapeutics by 10.3% during the 3rd quarter. CWM LLC now owns 36,013 shares of the company’s stock worth $116,000 after purchasing an additional 3,361 shares during the period. BNP Paribas Financial Markets raised its holdings in Larimar Therapeutics by 75.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock valued at $33,000 after buying an additional 4,376 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Larimar Therapeutics by 33.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock valued at $59,000 after buying an additional 4,619 shares during the last quarter. Velan Capital Investment Management LP boosted its stake in Larimar Therapeutics by 17.9% during the second quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock worth $95,000 after buying an additional 5,000 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Larimar Therapeutics by 7.8% during the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after acquiring an additional 5,001 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

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.