Stock Traders Buy High Volume of Larimar Therapeutics Call Options (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR) saw unusually large options trading activity on Friday. Investors purchased 3,011 call options on the company. This represents an increase of approximately 250% compared to the average volume of 861 call options.

Larimar Therapeutics Stock Performance

LRMR opened at $4.59 on Friday. The company’s 50-day simple moving average is $3.85 and its two-hundred day simple moving average is $3.90. The stock has a market capitalization of $475.48 million, a P/E ratio of -2.38 and a beta of 0.91. Larimar Therapeutics has a 52-week low of $1.61 and a 52-week high of $6.42.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wedbush upped their target price on shares of Larimar Therapeutics from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Lifesci Capital upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, January 22nd. Finally, Citigroup increased their target price on Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Two 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $16.29.

Insider Transactions at Larimar Therapeutics

In other news, Director James E. Flynn acquired 5,000,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average cost of $5.00 per share, with a total value of $25,000,000.00. Following the transaction, the director owned 10,622,957 shares of the company’s stock, valued at $53,114,785. This trade represents a 88.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Larimar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in Larimar Therapeutics in the 1st quarter worth approximately $241,000. Acadian Asset Management LLC bought a new position in shares of Larimar Therapeutics during the 1st quarter valued at $113,000. Rhumbline Advisers boosted its stake in shares of Larimar Therapeutics by 15.7% in the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock worth $140,000 after buying an additional 8,818 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Larimar Therapeutics in the 2nd quarter worth $39,000. Finally, American Century Companies Inc. grew its holdings in shares of Larimar Therapeutics by 7.8% in the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock worth $200,000 after acquiring an additional 5,001 shares during the period. Hedge funds and other institutional investors own 91.92% 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.