Nuveen LLC Makes New $376,000 Investment in Larimar Therapeutics, Inc. $LRMR

Key Points

• Nuveen LLC has invested approximately $376,000 in Larimar Therapeutics by acquiring 174,788 shares, which represents 0.27% of the company's stock.
• Larimar Therapeutics' shares have recently increased by 1.8%, with the stock currently valued at $3.94.
• Insider trading includes a significant purchase by Director James E. Flynn, who bought 9,375,000 shares for $30 million, increasing his ownership by over 5,700%.

Nuveen LLC bought a new position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 174,788 shares of the company's stock, valued at approximately $376,000. Nuveen LLC owned about 0.27% of Larimar Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of Larimar Therapeutics during the 4th quarter worth approximately $25,000. Algert Global LLC acquired a new position in shares of Larimar Therapeutics during the 4th quarter worth approximately $47,000. Graham Capital Management L.P. acquired a new position in shares of Larimar Therapeutics during the 4th quarter worth approximately $54,000. ProShare Advisors LLC acquired a new position in shares of Larimar Therapeutics during the 4th quarter worth approximately $58,000. Finally, Velan Capital Investment Management LP acquired a new position in shares of Larimar Therapeutics during the 4th quarter worth approximately $70,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on LRMR. JMP Securities reduced their price target on shares of Larimar Therapeutics from $22.00 to $18.00 and set a "market outperform" rating on the stock in a research report on Friday, August 15th. Wedbush reduced their price target on shares of Larimar Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Guggenheim reaffirmed a "buy" rating and set a $26.00 price target on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Finally, Citigroup reaffirmed a "buy" rating on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Larimar Therapeutics presently has an average rating of "Buy" and a consensus target price of $18.43.

Larimar Therapeutics Stock Up 4.3%

NASDAQ LRMR traded up $0.17 on Thursday, reaching $4.17. The stock had a trading volume of 1,097,898 shares, compared to its average volume of 1,343,244. The firm has a market capitalization of $345.19 million, a price-to-earnings ratio of -2.67 and a beta of 0.91. Larimar Therapeutics, Inc. has a 12-month low of $1.61 and a 12-month high of $9.50. The stock has a fifty day moving average price of $3.65 and a two-hundred day moving average price of $2.84.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.06. Sell-side analysts forecast that Larimar Therapeutics, Inc. will post -1.15 earnings per share for the current fiscal year.

Insider Transactions at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn purchased 9,375,000 shares of the company's stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $3.20 per share, for a total transaction of $30,000,000.00. Following the completion of the purchase, the director directly owned 9,538,945 shares in the company, valued at approximately $30,524,624. The trade was a 5,718.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by insiders.

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.