Seven Fleet Capital Management LP Purchases Shares of 230,921 Larimar Therapeutics, Inc. $LRMR

Seven Fleet Capital Management LP acquired a new stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 230,921 shares of the company’s stock, valued at approximately $704,309. Seven Fleet Capital Management LP owned 0.22% of Larimar Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LRMR. Deerfield Management Company L.P. grew its position in Larimar Therapeutics by 44.2% during the third quarter. Deerfield Management Company L.P. now owns 30,606,974 shares of the company’s stock worth $98,861,000 after buying an additional 9,375,000 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Larimar Therapeutics in the second quarter valued at approximately $17,318,000. Opaleye Management Inc. increased its position in shares of Larimar Therapeutics by 114.7% during the second quarter. Opaleye Management Inc. now owns 4,110,000 shares of the company’s stock valued at $11,878,000 after acquiring an additional 2,195,923 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Larimar Therapeutics by 160.6% in the 3rd 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 during the last quarter. Finally, AIGH Capital Management LLC increased its position in shares of Larimar Therapeutics by 100.0% in 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 in the last quarter. 91.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on LRMR. HC Wainwright assumed coverage on Larimar Therapeutics in a report on Thursday, July 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Friday, July 17th. Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. began coverage on Larimar Therapeutics in a report on Wednesday, May 27th. They set an “overweight” rating and a $9.00 price objective on the stock. Finally, Robert W. Baird decreased their price objective on shares of Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued 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 $11.67.

Insider Buying and Selling

In other Larimar Therapeutics news, Director Thomas Edward Hamilton acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average price of $3.34 per share, for a total transaction of $167,000.00. Following the completion of the acquisition, the director owned 714,798 shares of the company’s stock, valued at approximately $2,387,425.32. This trade represents a 7.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.00% of the company’s stock.

Larimar Therapeutics Price Performance

Shares of NASDAQ LRMR traded down $0.04 during midday trading on Friday, reaching $4.01. 641,480 shares of the stock were exchanged, compared to its average volume of 2,697,296. The business has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $4.06. The company has a market capitalization of $416.56 million, a price-to-earnings ratio of -2.06 and a beta of 0.81. Larimar Therapeutics, Inc. has a 12 month low of $2.71 and a 12 month high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.08. Equities research analysts expect that Larimar Therapeutics, Inc. will post -1.5 earnings per share for the current fiscal year.

About Larimar Therapeutics

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.