127,500 Shares in Larimar Therapeutics, Inc. $LRMR Acquired by Cantor Fitzgerald L. P.

Cantor Fitzgerald L. P. bought a new position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 127,500 shares of the company’s stock, valued at approximately $412,000. Cantor Fitzgerald L. P. owned approximately 0.15% of Larimar Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LRMR. BNP Paribas Financial Markets increased its position in shares of Larimar Therapeutics by 75.8% during the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after acquiring an additional 4,376 shares during the period. Savant Capital LLC purchased a new stake in Larimar Therapeutics during the 2nd quarter worth about $39,000. B.O.S.S. Retirement Advisors LLC purchased a new stake in Larimar Therapeutics during the 3rd quarter worth about $41,000. Wealth Enhancement Advisory Services LLC raised its position in Larimar Therapeutics by 33.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock valued at $59,000 after purchasing an additional 4,619 shares in the last quarter. Finally, Velan Capital Investment Management LP raised its position in Larimar Therapeutics by 17.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock valued at $95,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Stock Performance

Shares of Larimar Therapeutics stock opened at $4.59 on Monday. The company has a market capitalization of $475.48 million, a P/E ratio of -2.38 and a beta of 0.90. Larimar Therapeutics, Inc. has a 1 year low of $1.61 and a 1 year high of $6.42. The company’s fifty day moving average is $3.85 and its two-hundred day moving average is $3.90.

Insider Activity

In other Larimar Therapeutics news, Director James E. Flynn purchased 5,000,000 shares of Larimar Therapeutics stock in a transaction dated Friday, February 27th. The stock was acquired at an average cost of $5.00 per share, with a total value of $25,000,000.00. Following the acquisition, the director directly owned 10,622,957 shares of the company’s stock, valued at $53,114,785. This 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. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LRMR. Leerink Partners raised Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Lifesci Capital upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Wedbush increased their price objective on shares of Larimar Therapeutics from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Citigroup lifted their price objective on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Two investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $16.29.

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.