Larimar Therapeutics (NASDAQ:LRMR) Director Thomas Edward Hamilton Purchases 70,000 Shares of Company Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Thomas Hamilton purchased 70,000 shares of the firm’s stock in a transaction dated Thursday, November 12th. The stock was purchased at an average cost of $2.67 per share, with a total value of $186,900.00. Following the acquisition, the director directly owned 70,000 shares in the company, valued at $186,900. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Larimar Therapeutics Stock Down 1.1%

Shares of LRMR traded down $0.03 during trading hours on Thursday, reaching $2.70. The stock had a trading volume of 1,190,176 shares, compared to its average volume of 1,505,641. Larimar Therapeutics, Inc. has a 52 week low of $1.91 and a 52 week high of $6.42. The firm has a 50-day moving average of $2.95 and a 200 day moving average of $3.76. The company has a market cap of $280.48 million, a P/E ratio of -1.38 and a beta of 0.73.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LRMR shares. Leerink Partners assumed coverage on Larimar Therapeutics in a research note on Monday, September 14th. They issued an “outperform” rating and a $13.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, October 15th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday. Two 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 MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $10.33.

Recent Larimar Therapeutics Headlines

These are some of the LRMR headlines that stood out recently:

• Positive Sentiment: Six insiders—including CEO Carole Ben-Maimon, CFO Michael Celano and COO John B. Jr. Harlow—purchased a combined 70,810 shares for about $195,000 in transactions at roughly $2.71–$2.80 per share. The purchases increased each buyer’s holdings and may support investor sentiment, though insider buying does not guarantee future performance. CFO purchase filing Insider purchase filing COO purchase filing Director purchase filing Director purchase filing CEO purchase filing
• Neutral Sentiment: H.C. Wainwright kept its Buy rating on Larimar; the report describes no rating change or new catalyst. H.C. Wainwright maintains Buy rating

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. bought a new stake in Larimar Therapeutics in the 2nd quarter valued at $1,210,000. BlackRock Inc. acquired a new position in Larimar Therapeutics in the 2nd quarter worth $17,318,000. Dimensional Fund Advisors LP boosted its stake in Larimar Therapeutics by 143.8% in the 1st 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 increased its holdings in Larimar Therapeutics by 148.9% during the 1st quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock worth $3,330,000 after purchasing an additional 442,676 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new position in Larimar Therapeutics during the 1st quarter worth about $1,709,000. Institutional investors own 91.92% of the company’s stock.

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.