Larimar Therapeutics (NASDAQ:LRMR) Director Frank Thomas Acquires 8,000 Shares of Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Frank Thomas purchased 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were acquired at an average price of $2.73 per share, for a total transaction of $21,840.00. Following the completion of the acquisition, the director directly owned 15,000 shares of the company’s stock, valued at $40,950. This trade represents a 114.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Larimar Therapeutics Stock Down 1.1%

LRMR stock traded down $0.03 during midday trading on Thursday, hitting $2.70. The company’s stock had a trading volume of 1,190,176 shares, compared to its average volume of 2,378,292. The stock’s 50-day moving average price is $2.97 and its 200 day moving average price is $3.77. Larimar Therapeutics, Inc. has a 1 year low of $1.91 and a 1 year high of $6.42. The stock has a market cap of $280.48 million, a price-to-earnings ratio of -1.38 and a beta of 0.73.

Institutional Trading of Larimar Therapeutics

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Larimar Therapeutics in the 2nd quarter valued at about $17,318,000. AIGH Capital Management LLC bought a new stake in shares of Larimar Therapeutics during the third quarter valued at about $5,911,000. Dimensional Fund Advisors LP lifted its holdings in shares of Larimar Therapeutics by 143.8% in the first quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock worth $3,592,000 after buying an additional 470,968 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Larimar Therapeutics by 148.9% in the first quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock worth $3,330,000 after buying an additional 442,676 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new position in shares of Larimar Therapeutics in the first quarter valued at approximately $1,709,000. 91.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on LRMR. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, October 15th. Wedbush reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday. Finally, Leerink Partners began coverage on shares of Larimar Therapeutics in a research note on Monday, September 14th. They issued an “outperform” rating and a $13.00 target price on the stock. 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. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $10.33.

Larimar Therapeutics Company Profile

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.