Larimar Therapeutics (NASDAQ:LRMR) COO Buys 17,800 Shares of Company Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) COO John Jr. Harlow acquired 17,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were acquired at an average cost of $2.80 per share, for a total transaction of $49,840.00. Following the purchase, the chief operating officer directly owned 67,800 shares in the company, valued at $189,840. This trade represents a 35.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Larimar Therapeutics Stock Performance

LRMR stock traded down $0.03 during midday trading on Thursday, hitting $2.70. 1,190,176 shares of the company’s stock were exchanged, compared to its average volume of 2,378,292. The stock’s fifty day moving average price is $2.97 and its 200-day moving average price is $3.77. The company has a market cap of $280.48 million, a PE ratio of -1.38 and a beta of 0.73. Larimar Therapeutics, Inc. has a one year low of $1.91 and a one year high of $6.42.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LRMR shares. Leerink Partners assumed coverage on Larimar Therapeutics in a research report on Monday, September 14th. They set an “outperform” rating and a $13.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, October 15th. Finally, Wedbush reiterated an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and an average price target of $10.33.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sei Investments Co. raised its position in Larimar Therapeutics by 54.5% in the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock valued at $74,000 after buying an additional 5,763 shares during the last quarter. Bank of America Corp DE lifted its stake in Larimar Therapeutics by 17.0% in the 1st quarter. Bank of America Corp DE now owns 47,359 shares of the company’s stock valued at $213,000 after acquiring an additional 6,886 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Larimar Therapeutics during the 2nd quarter worth approximately $27,000. Pallas Capital Advisors LLC acquired a new position in Larimar Therapeutics during the 2nd quarter worth approximately $31,000. Finally, HB Wealth Management LLC acquired a new position in Larimar Therapeutics during the 2nd quarter worth approximately $49,000. 91.92% of the stock is currently owned by institutional investors.

About Larimar Therapeutics

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.