Key Points
- Director Thomas Edward Hamilton bought 70,000 Larimar shares at an average $2.67 each, investing $186,900; the purchase brought his reported ownership to 70,000 shares.
- Analysts’ consensus rating is Buy, with an average price target of $10.33. Ratings include two Strong Buys, six Buys, and one Sell.
- Larimar shares were reported down 1.1%; the company’s stock opened at $2.70, within a 52-week range of $1.91 to $6.42.
Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) CEO Carole Ben-Maimon acquired 18,050 shares of the business's stock in a transaction that occurred on Wednesday, November 11th. The stock was purchased at an average price of $2.77 per share, for a total transaction of $49,998.50. Following the completion of the transaction, the chief executive officer owned 386,326 shares in the company, valued at $1,070,123.02. The trade was a 4.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Larimar Therapeutics Price Performance
Shares of LRMR stock opened at $2.70 on Friday. The business has a 50 day simple moving average of $2.95 and a 200 day simple moving average of $3.76. The firm has a market capitalization of $280.48 million, a price-to-earnings ratio of -1.38 and a beta of 0.73. Larimar Therapeutics, Inc. has a 12-month low of $1.91 and a 12-month high of $6.42.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Wedbush reiterated an "outperform" rating on shares of Larimar Therapeutics in a research note on Tuesday. Leerink Partners initiated coverage on shares of Larimar Therapeutics in a research report on Monday, September 14th. They issued an "outperform" rating and a $13.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Larimar Therapeutics in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $10.33.
Check Out Our Latest Stock Report on Larimar Therapeutics
More Larimar Therapeutics News
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Institutional Trading of Larimar Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth about $17,318,000. AIGH Capital Management LLC bought a new position in shares of Larimar Therapeutics in the 3rd quarter valued at approximately $5,911,000. Dimensional Fund Advisors LP lifted its holdings in Larimar Therapeutics by 143.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company's stock worth $3,592,000 after purchasing an additional 470,968 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Larimar Therapeutics by 148.9% in the 1st quarter. Renaissance Technologies LLC now owns 739,942 shares of the company's stock worth $3,330,000 after purchasing an additional 442,676 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in Larimar Therapeutics in the 2nd quarter worth approximately $1,210,000. Institutional investors and hedge funds own 91.92% of the company's stock.
About Larimar Therapeutics
(
Get Free Report)
Larimar Therapeutics, Inc. is a clinical-stage biotechnology company headquartered in Bala Cynwyd, Pennsylvania, focused on developing treatments for rare diseases. Its lead drug candidate is nomlabofusp, formerly known as CTI-1601, an engineered fusion protein designed to deliver frataxin to mitochondria. Nomlabofusp is being developed to treat Friedreich's ataxia, a rare, inherited neurodegenerative disorder associated with insufficient frataxin. Larimar's approach uses a cell-penetrating peptide to transport frataxin into cells and mitochondria, with the goal of addressing an underlying cause of the disease rather than only treating its symptoms.
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