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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Thomas Hamilton purchased 70,000 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The stock was bought at an average price of $2.67 per share, for a total transaction of $186,900.00. Following the purchase, the director directly owned 70,000 shares in the company, valued at $186,900. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Larimar Therapeutics Price Performance

Shares of NASDAQ:LRMR opened at $2.70 on Friday. The business has a fifty day moving average price of $2.95 and a 200-day moving average price of $3.76. The company has a market capitalization of $280.48 million, a PE ratio of -1.38 and a beta of 0.73. Larimar Therapeutics, Inc. has a 1-year low of $1.91 and a 1-year high of $6.42.

Key Stories Impacting Larimar Therapeutics

These are some of the LRMR stories that stood out recently:

• Positive Sentiment: Six insiders—including CEO Carole Ben-Maimon, CFO Michael Celano and COO John B. Jr. Harlow—purchased a combined 70,810 shares for about $195,000 in transactions at roughly $2.71–$2.80 per share. The purchases increased each buyer’s holdings and may support investor sentiment, though insider buying does not guarantee future performance. CFO purchase filing Insider purchase filing COO purchase filing Director purchase filing Director purchase filing CEO purchase filing
• Neutral Sentiment: H.C. Wainwright kept its Buy rating on Larimar; the report describes no rating change or new catalyst. H.C. Wainwright maintains Buy rating

Institutional Trading of Larimar Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Larimar Therapeutics in the second quarter worth $17,318,000. AIGH Capital Management LLC bought a new position in shares of Larimar Therapeutics during the third quarter valued at $5,911,000. Dimensional Fund Advisors LP boosted its position in shares of Larimar Therapeutics by 143.8% during the first quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock valued at $3,592,000 after buying 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 first quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock valued at $3,330,000 after buying an additional 442,676 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Larimar Therapeutics during the second quarter valued at $1,210,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on LRMR shares. Leerink Partners assumed coverage on shares of Larimar Therapeutics in a research note on Monday, September 14th. They set an “outperform” rating and a $13.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, October 15th. Finally, Wedbush reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price 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.