Larimar Therapeutics (NASDAQ:LRMR) Director Thomas Edward Hamilton Acquires 50,000 Shares of Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Thomas Edward Hamilton acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average cost 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 $2,387,425.32. The trade was a 7.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Larimar Therapeutics Stock Up 5.9%

Shares of NASDAQ LRMR traded up $0.20 during midday trading on Wednesday, reaching $3.61. 2,044,073 shares of the company were exchanged, compared to its average volume of 3,091,009. The stock’s 50-day moving average price is $3.60 and its 200-day moving average price is $3.93. The stock has a market cap of $375.01 million, a P/E ratio of -1.75 and a beta of 0.83. Larimar Therapeutics, Inc. has a one year low of $2.71 and a one year high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.22. On average, equities research analysts anticipate that Larimar Therapeutics, Inc. will post -1.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LRMR. BNP Paribas Financial Markets increased its position in shares of Larimar Therapeutics by 75.8% during the third quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after buying an additional 4,376 shares during the period. SG Americas Securities LLC acquired a new position in Larimar Therapeutics in the fourth quarter valued at $60,000. Sei Investments Co. boosted its position in Larimar Therapeutics by 54.5% during 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. Coldstream Capital Management Inc. bought a new stake in Larimar Therapeutics during the third quarter valued at $57,000. Finally, Strs Ohio boosted its position in Larimar Therapeutics by 174.7% during the first quarter. Strs Ohio now owns 21,700 shares of the company’s stock valued at $98,000 after acquiring an additional 13,800 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LRMR. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th. Truist Financial upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Wall Street Zen raised shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. started coverage on shares of Larimar Therapeutics in a report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 price target on the stock. Finally, Robert W. Baird reduced their price objective 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. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Larimar Therapeutics currently has a consensus rating of “Buy” and an average price target 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.