Larimar Therapeutics (NASDAQ:LRMR) CEO Buys $49,998.50 in Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) CEO Carole Ben-Maimon acquired 18,050 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were bought at an average price of $2.77 per share, with a total value of $49,998.50. Following the completion of the transaction, the chief executive officer owned 386,326 shares in the company, valued at $1,070,123.02. This represents a 4.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Larimar Therapeutics Trading Up 11.9%

NASDAQ:LRMR traded up $0.32 on Friday, hitting $3.02. The company had a trading volume of 2,531,459 shares, compared to its average volume of 1,257,255. The stock has a market capitalization of $313.72 million, a price-to-earnings ratio of -1.55 and a beta of 0.73. The firm has a 50 day moving average of $2.93 and a two-hundred day moving average of $3.76. Larimar Therapeutics, Inc. has a 52 week low of $1.91 and a 52 week high of $6.42.

Analyst Ratings Changes

Several brokerages have recently issued reports on LRMR. Leerink Partners started coverage on shares of Larimar Therapeutics in a report on Monday, September 14th. They set an “outperform” rating and a $13.00 price target for the company. Wedbush reiterated an “outperform” rating on shares of Larimar Therapeutics in a research note on Tuesday, November 10th. Wall Street Zen downgraded Larimar Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Larimar Therapeutics in a research report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $10.33.

Institutional Trading of Larimar Therapeutics

Several institutional investors have recently modified their holdings of LRMR. Blue Owl Capital Holdings LP increased its holdings in Larimar Therapeutics by 0.3% in the third quarter. Blue Owl Capital Holdings LP now owns 9,923,904 shares of the company’s stock valued at $31,707,000 after purchasing an additional 32,147 shares during the period. BlackRock Inc. bought a new position in Larimar Therapeutics during the 2nd quarter worth $17,318,000. Marshall Wace LLP lifted its holdings in Larimar Therapeutics by 9.1% during the 3rd quarter. Marshall Wace LLP now owns 2,195,954 shares of the company’s stock worth $7,005,000 after buying an additional 183,496 shares during the period. AIGH Capital Management LLC acquired a new position in Larimar Therapeutics during the 3rd quarter worth about $5,911,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Larimar Therapeutics by 143.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock worth $3,592,000 after buying an additional 470,968 shares during the period. Institutional investors own 91.92% of the company’s stock.

Key Headlines Impacting Larimar Therapeutics

Here are a few of the latest headlines about LRMR:

• Positive Sentiment: CEO Carole Ben-Maimon, CFO Michael Celano, COO John B. Jr. Harlow, insider Gopi Shankar, and directors Frank Thomas and Joseph Truitt together purchased 52,810 shares for roughly $195,000. Director Thomas Hamilton separately bought 70,000 shares for $186,900. Insider purchase report Hamilton SEC filing
• Neutral Sentiment: The supplied coverage also notes H.C. Wainwright maintained a Buy rating; no rating change or fresh price-moving catalyst was reported. Analyst rating report

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.