Larimar Therapeutics, Inc. $LRMR Shares Acquired by AIGH Capital Management LLC

Key Points

• AIGH Capital Management doubled its stake in Larimar in Q4 to 2,000,000 shares (adding 1,000,000), representing about 2.42% of the company and roughly $7.62 million on its books while making LRMR its 17th-largest holding.
• Director James E. Flynn purchased 5,000,000 shares at $5.00 each ($25 million), increasing his ownership to 10,622,957 shares; insiders now own about 4.50% of the company.
• Institutional investors own roughly 91.92% of Larimar; the company has a market cap of about $409 million, recently missed EPS expectations, yet analysts carry an average target price of $16.50, implying substantial upside from current levels.

AIGH Capital Management LLC lifted its stake in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000,000 shares of the company's stock after buying an additional 1,000,000 shares during the quarter. Larimar Therapeutics makes up about 1.9% of AIGH Capital Management LLC's investment portfolio, making the stock its 17th largest holding. AIGH Capital Management LLC owned approximately 2.42% of Larimar Therapeutics worth $7,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Blue Owl Capital Holdings LP boosted its stake in shares of Larimar Therapeutics by 18.8% during the 3rd quarter. Blue Owl Capital Holdings LP now owns 5,853,040 shares of the company's stock worth $18,905,000 after buying an additional 925,000 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in Larimar Therapeutics in the 3rd quarter valued at about $412,000. Vanguard Group Inc. lifted its stake in Larimar Therapeutics by 44.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,087,840 shares of the company's stock valued at $9,974,000 after purchasing an additional 945,809 shares during the last quarter. B.O.S.S. Retirement Advisors LLC acquired a new stake in Larimar Therapeutics in the 3rd quarter valued at about $41,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Larimar Therapeutics by 33.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company's stock valued at $59,000 after purchasing an additional 4,619 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company's stock.

Insider Buying and Selling at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn acquired 5,000,000 shares of the stock in a transaction dated Friday, February 27th. The stock was purchased at an average cost of $5.00 per share, with a total value of $25,000,000.00. Following the transaction, the director owned 10,622,957 shares in the company, valued at approximately $53,114,785. The trade was a 88.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.50% of the company's stock.

Larimar Therapeutics Stock Performance

NASDAQ LRMR opened at $3.94 on Friday. The firm's fifty day moving average price is $4.74 and its two-hundred day moving average price is $4.01. The stock has a market cap of $409.29 million, a PE ratio of -1.78 and a beta of 0.91. Larimar Therapeutics, Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.30). As a group, sell-side analysts predict that Larimar Therapeutics, Inc. will post -1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Wedbush raised their target price on shares of Larimar Therapeutics from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, March 20th. Truist Financial upgraded shares of Larimar Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. Lifesci Capital upgraded shares of Larimar Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 24th. Finally, Citigroup raised their target price on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $16.50.

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.

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