396,726 Shares in Larimar Therapeutics, Inc. $LRMR Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. bought a new position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the second quarter, Holdings Channel reports. The fund bought 396,726 shares of the company’s stock, valued at approximately $1,210,000.

Other institutional investors and hedge funds also recently 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 valued at $33,000 after buying an additional 4,376 shares during the period. Coldstream Capital Management Inc. acquired a new position in Larimar Therapeutics in the third quarter valued at approximately $57,000. SG Americas Securities LLC purchased a new position in Larimar Therapeutics in the fourth quarter worth approximately $60,000. Sei Investments Co. increased its stake in Larimar Therapeutics by 54.5% during the first quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock worth $74,000 after acquiring an additional 5,763 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in Larimar Therapeutics during the fourth quarter worth $87,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Larimar Therapeutics Stock Performance

Larimar Therapeutics stock opened at $4.37 on Thursday. The company has a market capitalization of $453.96 million, a PE ratio of -2.24 and a beta of 0.81. Larimar Therapeutics, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $6.42. The firm has a 50 day moving average price of $3.70 and a 200 day moving average price of $4.01.

Larimar Therapeutics (NASDAQ:LRMR) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. As a group, equities research analysts forecast that Larimar Therapeutics, Inc. will post -1.5 earnings per share for the current year.

Analyst Ratings Changes

LRMR has been the topic of several recent analyst reports. HC Wainwright began coverage on Larimar Therapeutics in a research note on Thursday, July 2nd. They issued a “buy” rating and a $10.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Larimar Therapeutics in a research report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Friday, July 17th. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 30th. Finally, Robert W. Baird lowered their target price on shares of Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Three 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. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $12.57.

Insider Activity

In other news, Director Thomas Edward Hamilton bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average price of $3.34 per share, with a total value of $167,000.00. Following the purchase, the director owned 714,798 shares in the company, valued at approximately $2,387,425.32. The trade was a 7.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.00% of the company’s stock.

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.