Seven Fleet Capital Management LP Buys Shares of 256,585 Larimar Therapeutics, Inc. $LRMR

Seven Fleet Capital Management LP purchased a new stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 256,585 shares of the company’s stock, valued at approximately $1,155,000.

A number of other hedge funds have also modified their holdings of LRMR. Bank of America Corp DE raised its holdings in shares of Larimar Therapeutics by 17.0% during the first quarter. Bank of America Corp DE now owns 47,359 shares of the company’s stock worth $213,000 after acquiring an additional 6,886 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in Larimar Therapeutics during the first quarter valued at $1,709,000. Renaissance Technologies LLC grew its stake in Larimar Therapeutics by 148.9% in the first quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock valued at $3,330,000 after purchasing an additional 442,676 shares in the last quarter. Inceptionr LLC purchased a new position in Larimar Therapeutics in the first quarter valued at about $198,000. Finally, Sei Investments Co. grew its stake in Larimar Therapeutics by 54.5% in the first 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 in the last quarter. 91.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Thomas Edward Hamilton purchased 50,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was bought at an average price of $3.34 per share, for a total transaction of $167,000.00. Following the purchase, the director owned 714,798 shares in the company, valued at $2,387,425.32. The trade was a 7.52% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.50% of the company’s stock.

Larimar Therapeutics Trading Down 0.3%

Shares of NASDAQ:LRMR opened at $3.82 on Friday. The stock has a market capitalization of $396.82 million, a PE ratio of -1.85 and a beta of 0.83. Larimar Therapeutics, Inc. has a 1 year low of $2.71 and a 1 year high of $6.42. The firm has a fifty day moving average price of $3.58 and a 200 day moving average price of $3.95.

Larimar Therapeutics (NASDAQ:LRMR) last posted its earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.22. On average, sell-side analysts forecast that Larimar Therapeutics, Inc. will post -1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

LRMR has been the subject of a number of recent research reports. JPMorgan Chase & Co. started coverage on Larimar Therapeutics in a research note on Wednesday, May 27th. They set an “overweight” rating and a $9.00 price target for the company. Citigroup reissued a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th. HC Wainwright assumed coverage on Larimar Therapeutics in a report on Thursday, July 2nd. They issued a “buy” rating and a $10.00 price objective on the stock. Wall Street Zen raised shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Friday, July 17th. Three investment 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 company currently has an average rating of “Buy” and an average target price of $12.71.

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.