Key Points
- Larimar Therapeutics director Thomas Edward Hamilton bought 50,000 shares at $3.34 each, a transaction worth about $167,000. The purchase increased his ownership by 7.52% to 714,798 shares.
- LRMR shares were up 5.9% and opened at $3.61, with the stock trading near its 50-day average of $3.58 and below its 200-day average of $3.93.
- Analysts remain broadly positive on the biotech stock, with an average Buy rating and a consensus price target of $12.71. Recent reports included price-target cuts from some firms, but several still see meaningful upside.
Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) Director Thomas Edward Hamilton purchased 50,000 shares of Larimar Therapeutics stock in a transaction on Monday, July 6th. The shares were purchased at an average cost of $3.34 per share, with a total value of $167,000.00. Following the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Larimar Therapeutics Stock Up 5.9%
Shares of LRMR opened at $3.61 on Thursday. The stock has a market capitalization of $375.01 million, a P/E ratio of -1.75 and a beta of 0.83. Larimar Therapeutics, Inc. has a twelve month low of $2.71 and a twelve month high of $6.42. The company has a 50 day moving average of $3.58 and a 200-day moving average of $3.93.
Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.53) by $0.22. On average, sell-side analysts anticipate that Larimar Therapeutics, Inc. will post -1.65 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Larimar Therapeutics
Several large investors have recently made changes to their positions in LRMR. BNP Paribas Financial Markets grew its stake in shares of Larimar Therapeutics by 75.8% in the third 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 in the last quarter. Coldstream Capital Management Inc. bought a new stake in Larimar Therapeutics during the third quarter worth $57,000. SG Americas Securities LLC acquired a new stake in Larimar Therapeutics in the fourth quarter valued at $60,000. Sei Investments Co. lifted 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 acquiring an additional 5,763 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in Larimar Therapeutics in the fourth quarter valued at $87,000. Institutional investors and hedge funds own 91.92% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on LRMR shares. Robert W. Baird lowered their price target on shares of Larimar Therapeutics from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 30th. Citigroup restated a "buy" rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th. HC Wainwright initiated coverage on Larimar Therapeutics in a report on Thursday, July 2nd. They issued a "buy" rating and a $10.00 price objective for the company. Wedbush lowered their target price on Larimar Therapeutics from $13.00 to $12.00 and set an "outperform" rating on the stock in a research report on Monday, May 18th. Finally, Truist Financial raised Larimar Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Three 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 MarketBeat, Larimar Therapeutics currently has an average rating of "Buy" and an average price target of $12.71.
View Our Latest Analysis 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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