Larimar Therapeutics (NASDAQ:LRMR) Director Frank Thomas Buys 8,000 Shares of Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Frank Thomas acquired 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average cost of $2.73 per share, for a total transaction of $21,840.00. Following the completion of the purchase, the director owned 15,000 shares of the company’s stock, valued at $40,950. This trade represents a 114.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Larimar Therapeutics Price Performance

Shares of LRMR stock opened at $2.70 on Friday. The business’s 50 day simple moving average is $2.95 and its 200 day simple moving average is $3.76. Larimar Therapeutics, Inc. has a one year low of $1.91 and a one year high of $6.42. The stock has a market capitalization of $280.48 million, a PE ratio of -1.38 and a beta of 0.73.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LRMR. Sei Investments Co. lifted its stake in shares of Larimar Therapeutics by 54.5% in the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock valued at $74,000 after purchasing an additional 5,763 shares during the period. Bank of America Corp DE boosted its position in shares of Larimar Therapeutics by 17.0% during the 1st quarter. Bank of America Corp DE now owns 47,359 shares of the company’s stock valued at $213,000 after purchasing an additional 6,886 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Larimar Therapeutics during the 2nd quarter valued at about $27,000. Pallas Capital Advisors LLC acquired a new stake in Larimar Therapeutics during the second quarter worth approximately $31,000. Finally, HB Wealth Management LLC acquired a new stake in Larimar Therapeutics during the second quarter worth approximately $49,000. 91.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LRMR has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, October 15th. Wedbush reiterated an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday. Finally, 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 target price for the company. Two 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, Larimar Therapeutics has an average rating of “Buy” and a consensus price target of $10.33.

Key Headlines Impacting Larimar Therapeutics

Investors following LRMR have been watching these headlines:

• 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

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.