AIGH Capital Management LLC Acquires 1,000,000 Shares of Larimar Therapeutics, Inc. $LRMR

AIGH Capital Management LLC increased its holdings in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR) by 50.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,000,000 shares of the company’s stock after purchasing an additional 1,000,000 shares during the period. Larimar Therapeutics accounts for 1.8% of AIGH Capital Management LLC’s holdings, making the stock its 15th biggest holding. AIGH Capital Management LLC’s holdings in Larimar Therapeutics were worth $13,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets raised its stake in Larimar Therapeutics by 75.8% in 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 in the last quarter. Coldstream Capital Management Inc. purchased a new stake in Larimar Therapeutics during the third quarter worth $57,000. SG Americas Securities LLC bought a new stake in Larimar Therapeutics during the 4th quarter valued at $60,000. Commonwealth Equity Services LLC bought a new stake in Larimar Therapeutics during the 4th quarter valued at $87,000. Finally, Strs Ohio increased its holdings in shares of Larimar Therapeutics by 174.7% in the 1st 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 period. 91.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Larimar Therapeutics news, Director Thomas Edward Hamilton bought 50,000 shares of Larimar Therapeutics stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average cost of $3.34 per share, with a total value of $167,000.00. Following the transaction, the director directly owned 714,798 shares of the company’s stock, valued at approximately $2,387,425.32. This represents a 7.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LRMR has been the subject of several recent research reports. HC Wainwright started coverage on Larimar Therapeutics in a research report on Thursday, July 2nd. They issued a “buy” rating and a $10.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research report on Tuesday, June 30th. JPMorgan Chase & Co. began coverage on Larimar Therapeutics in a research note on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Tuesday, April 21st. Finally, Truist Financial raised shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $12.71.

Larimar Therapeutics Trading Up 5.9%

NASDAQ LRMR opened at $3.61 on Thursday. The firm’s fifty day simple moving average is $3.58 and its two-hundred day simple moving average is $3.93. Larimar Therapeutics, Inc. has a 12-month low of $2.71 and a 12-month high of $6.42. The firm has a market capitalization of $375.01 million, a P/E ratio of -1.75 and a beta of 0.83.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.22. As a group, sell-side analysts predict that Larimar Therapeutics, Inc. will post -1.65 earnings per share for the current fiscal year.

About Larimar Therapeutics

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.