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

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director Thomas Edward Hamilton bought 50,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was bought at an average cost of $3.34 per share, for a total transaction of $167,000.00. Following the purchase, the director directly 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 is accessible through the SEC website.

Larimar Therapeutics Trading Up 5.9%

Shares of LRMR opened at $3.61 on Thursday. The stock has a market cap of $375.01 million, a P/E ratio of -1.75 and a beta of 0.83. Larimar Therapeutics, Inc. has a 1 year low of $2.71 and a 1 year high of $6.42. The stock’s 50-day moving average price is $3.58 and its two-hundred day moving average price is $3.93.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.22. As a group, equities analysts forecast that Larimar Therapeutics, Inc. will post -1.65 EPS for the current year.

Analyst Ratings Changes

LRMR has been the topic of several analyst reports. JPMorgan Chase & Co. began coverage on shares of Larimar Therapeutics in a report on Wednesday, May 27th. They issued an “overweight” rating and a $9.00 target price on the stock. Truist Financial raised shares of Larimar Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. HC Wainwright began coverage on shares of Larimar Therapeutics in a research report on Thursday, July 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Citigroup reiterated a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $12.71.

Institutional Investors Weigh In On Larimar Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in LRMR. BNP Paribas Financial Markets boosted its stake in Larimar Therapeutics by 75.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after purchasing an additional 4,376 shares during the period. American Century Companies Inc. raised its stake in shares of Larimar Therapeutics by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after purchasing an additional 5,001 shares during the period. Sei Investments Co. raised its stake in shares of Larimar Therapeutics by 54.5% in the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock valued at $74,000 after purchasing an additional 5,763 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Larimar Therapeutics by 26.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,008 shares of the company’s stock valued at $111,000 after purchasing an additional 6,038 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Larimar Therapeutics by 17.0% in the first quarter. Bank of America Corp DE now owns 47,359 shares of the company’s stock valued at $213,000 after purchasing an additional 6,886 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors and hedge funds.

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.