Thomas Edward Hamilton Buys 50,000 Shares of Larimar Therapeutics (NASDAQ:LRMR) Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Thomas Edward Hamilton bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were acquired at an average cost of $3.34 per share, with a total value of $167,000.00. Following the purchase, the director directly owned 714,798 shares of the company’s stock, valued at $2,387,425.32. This trade represents a 7.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Larimar Therapeutics Stock Up 5.9%

LRMR traded up $0.20 during trading on Wednesday, hitting $3.61. The company’s stock had a trading volume of 2,044,073 shares, compared to its average volume of 3,091,009. 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, Inc. has a twelve month low of $2.71 and a twelve month high of $6.42. The stock’s fifty day moving average price is $3.60 and its 200-day moving average price is $3.93.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.22. Equities research analysts expect that Larimar Therapeutics, Inc. will post -1.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Truist Financial raised Larimar Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. HC Wainwright initiated coverage on Larimar Therapeutics in a research note on Thursday, July 2nd. They set a “buy” rating and a $10.00 price target on the stock. Wedbush cut their price target on Larimar Therapeutics from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, May 18th. Finally, Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Larimar Therapeutics has an average rating of “Buy” and an average price target of $12.71.

Hedge Funds Weigh In On Larimar Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. increased its holdings in Larimar Therapeutics by 44.2% during the 3rd quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock worth $98,861,000 after purchasing an additional 9,375,000 shares in the last quarter. Opaleye Management Inc. lifted its holdings in shares of Larimar Therapeutics by 114.7% in the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after purchasing an additional 2,195,923 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Larimar Therapeutics by 160.6% in the third quarter. Woodline Partners LP now owns 1,622,850 shares of the company’s stock valued at $5,242,000 after purchasing an additional 1,000,168 shares in the last quarter. AIGH Capital Management LLC boosted its position in shares of Larimar Therapeutics by 100.0% during the fourth quarter. AIGH Capital Management LLC now owns 2,000,000 shares of the company’s stock valued at $7,620,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Blue Owl Capital Holdings LP boosted its position in shares of Larimar Therapeutics by 16.6% during the fourth quarter. Blue Owl Capital Holdings LP now owns 6,823,690 shares of the company’s stock valued at $25,998,000 after buying an additional 970,650 shares during the last quarter. Institutional investors own 91.92% of the company’s stock.

Larimar Therapeutics Company Profile

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.