Larimar Therapeutics (NASDAQ:LRMR) Insider Gopi Shankar Purchases 5,000 Shares of Company Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) insider Gopi Shankar acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, November 11th. The shares were bought at an average cost of $2.71 per share, with a total value of $13,550.00. Following the transaction, the insider directly owned 81,443 shares of the company’s stock, valued at $220,710.53. The trade was a 6.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Larimar Therapeutics Trading Down 1.1%

LRMR stock traded down $0.03 during trading on Thursday, reaching $2.70. 1,190,176 shares of the stock were exchanged, compared to its average volume of 2,378,292. Larimar Therapeutics, Inc. has a twelve month low of $1.91 and a twelve month high of $6.42. The company has a market capitalization of $280.48 million, a P/E ratio of -1.38 and a beta of 0.73. The stock has a 50 day simple moving average of $2.97 and a 200-day simple moving average of $3.77.

Analyst Ratings Changes

Several research firms have commented on LRMR. Wedbush reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a report on Tuesday. Leerink Partners initiated coverage on Larimar Therapeutics in a research report on Monday, September 14th. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, October 15th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $10.33.

Institutional Trading of Larimar Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LRMR. BlackRock Inc. acquired a new position in Larimar Therapeutics in the second quarter worth about $17,318,000. AIGH Capital Management LLC bought a new position in Larimar Therapeutics during the third quarter worth about $5,911,000. Dimensional Fund Advisors LP lifted its stake in Larimar Therapeutics by 143.8% during the first quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock worth $3,592,000 after purchasing an additional 470,968 shares during the period. Renaissance Technologies LLC boosted its holdings in Larimar Therapeutics by 148.9% during the first quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock valued at $3,330,000 after purchasing an additional 442,676 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in Larimar Therapeutics during the second quarter valued at approximately $1,210,000. Institutional investors own 91.92% of the company’s stock.

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.