Key Points
- Director James Flynn bought 5,000,000 shares at $5.00 each on Feb. 27 — a $25,000,000 purchase that raised his stake to 10,622,957 shares, an 88.92% increase.
- Institutional owners hold about 91.92% of Larimar, with Deerfield Management boosting its position to 30,606,974 shares after adding 9,375,000 shares.
- Analysts are largely bullish, with a consensus rating of “Buy” and an average price target of $16.14, backed by recent upgrades from firms including Citigroup, Leerink and Lifesci.
Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) Director James Flynn bought 5,000,000 shares of the firm's stock in a transaction on Friday, February 27th. The stock was purchased at an average cost of $5.00 per share, with a total value of $25,000,000.00. Following the completion of the transaction, the director directly owned 10,622,957 shares of the company's stock, valued at approximately $53,114,785. The trade was a 88.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Larimar Therapeutics Stock Down 1.5%
Shares of NASDAQ:LRMR opened at $5.23 on Tuesday. The firm has a market capitalization of $432.93 million, a PE ratio of -2.71 and a beta of 1.00. The company has a 50-day moving average price of $3.59 and a two-hundred day moving average price of $3.81. Larimar Therapeutics, Inc. has a twelve month low of $1.61 and a twelve month high of $6.42.
Institutional Trading of Larimar Therapeutics
Institutional investors and hedge funds have recently made changes to their positions in the stock. Deerfield Management Company L.P. grew its holdings in shares of Larimar Therapeutics by 44.2% during the 3rd quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company's stock valued at $98,861,000 after purchasing an additional 9,375,000 shares during the last quarter. Opaleye Management Inc. boosted its position in Larimar Therapeutics by 114.7% during the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company's stock valued at $11,878,000 after buying an additional 2,195,923 shares during the period. Woodline Partners LP grew its stake in shares of Larimar Therapeutics by 160.6% during the third quarter. Woodline Partners LP now owns 1,622,850 shares of the company's stock valued at $5,242,000 after buying an additional 1,000,168 shares during the last quarter. AIGH Capital Management LLC purchased a new position in shares of Larimar Therapeutics in the third quarter worth about $3,230,000. Finally, Blue Owl Capital Holdings LP lifted its stake in shares of Larimar Therapeutics by 16.6% in the 4th quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company's stock valued at $25,998,000 after acquiring an additional 970,650 shares during the last quarter. Hedge funds and other institutional investors own 91.92% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Leerink Partners raised Larimar Therapeutics to a "strong-buy" rating in a report on Monday, January 5th. Citigroup raised their target price on Larimar Therapeutics from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Lifesci Capital upgraded Larimar Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 24th. Finally, Wedbush reissued an "outperform" rating and issued a $11.00 price target on shares of Larimar Therapeutics in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Larimar Therapeutics presently has a consensus rating of "Buy" and an average price target of $16.14.
Check Out Our Latest Stock Report on LRMR
Larimar Therapeutics Company Profile
(
Get Free Report)
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.
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