SummitTX Capital L.P. Invests $1.71 Million in Larimar Therapeutics, Inc. $LRMR

SummitTX Capital L.P. acquired a new stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 379,765 shares of the company’s stock, valued at approximately $1,709,000. SummitTX Capital L.P. owned approximately 0.37% of Larimar Therapeutics at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Larimar Therapeutics by 75.8% in the 3rd 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 in the last quarter. American Century Companies Inc. lifted its stake in Larimar Therapeutics by 7.8% in the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after purchasing an additional 5,001 shares during the last quarter. Sei Investments Co. lifted its position in shares of Larimar Therapeutics by 54.5% during the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock valued at $74,000 after buying an additional 5,763 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Larimar Therapeutics by 26.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,008 shares of the company’s stock worth $111,000 after purchasing an additional 6,038 shares during the period. Finally, Barclays PLC grew its stake in Larimar Therapeutics by 10.7% in the 4th quarter. Barclays PLC now owns 78,470 shares of the company’s stock valued at $299,000 after buying an additional 7,577 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

Insider Transactions at Larimar Therapeutics

In other Larimar Therapeutics news, Director Thomas Edward Hamilton purchased 50,000 shares of the stock in a transaction on Monday, July 6th. The stock was acquired at an average price of $3.34 per share, with a total value of $167,000.00. Following the transaction, the director directly owned 714,798 shares of the company’s stock, valued at approximately $2,387,425.32. This trade represents a 7.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LRMR has been the topic of several analyst reports. Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Friday, July 17th. JPMorgan Chase & Co. began coverage on Larimar Therapeutics in a report on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 price objective for the company. HC Wainwright initiated coverage on Larimar Therapeutics in a report on Thursday, July 2nd. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th. Three 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 company’s stock. According to MarketBeat, Larimar Therapeutics has a consensus rating of “Buy” and a consensus target price of $12.71.

Larimar Therapeutics Stock Down 5.4%

NASDAQ:LRMR opened at $3.62 on Thursday. The company has a fifty day moving average of $3.57 and a 200 day moving average of $3.95. Larimar Therapeutics, Inc. has a 52 week low of $2.71 and a 52 week high of $6.42. The firm has a market capitalization of $376.25 million, a P/E ratio of -1.76 and a beta of 0.83.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.22. As a group, analysts anticipate that Larimar Therapeutics, Inc. will post -1.65 EPS for the current year.

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.