Larimar Therapeutics (NASDAQ:LRMR) Director Thomas Edward Hamilton Purchases 70,000 Shares of Stock

Key Points

• Director Thomas Hamilton bought 70,000 Larimar shares at an average price of $2.67, investing $186,900; the purchase was disclosed in an SEC filing.
• Larimar shares traded at $2.70, near the lower end of their 52-week range of $1.91–$6.42.
• Analysts’ consensus rating is Buy, with an average price target of $10.33, though ratings include one Sell alongside Buy and Strong Buy recommendations.

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) Director Thomas Hamilton acquired 70,000 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was purchased at an average price of $2.67 per share, with a total value of $186,900.00. Following the completion of the transaction, the director owned 70,000 shares of the company's stock, valued at approximately $186,900. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Larimar Therapeutics Stock Performance

NASDAQ:LRMR traded down $0.03 on Thursday, hitting $2.70. 1,190,176 shares of the stock were exchanged, compared to its average volume of 1,505,641. The stock has a market capitalization of $280.48 million, a price-to-earnings ratio of -1.38 and a beta of 0.73. Larimar Therapeutics, Inc. has a 52 week low of $1.91 and a 52 week high of $6.42. The company's 50-day moving average price is $2.95 and its 200 day moving average price is $3.76.

Wall Street Analysts Forecast Growth

LRMR has been the topic of several analyst reports. Wedbush restated an "outperform" rating on shares of Larimar Therapeutics in a report on Tuesday. Leerink Partners began coverage on shares of Larimar Therapeutics in a report on Monday, September 14th. They set an "outperform" rating and a $13.00 target price for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Larimar Therapeutics in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Larimar Therapeutics currently has a consensus rating of "Buy" and an average target price of $10.33.

Latest Larimar Therapeutics News

Here's some of the latest news about LRMR:

• Positive Sentiment: Six insiders—including CEO Carole Ben-Maimon, CFO Michael Celano and COO John B. Jr. Harlow—purchased a combined 70,810 shares for about $195,000 in transactions at roughly $2.71–$2.80 per share. The purchases increased each buyer’s holdings and may support investor sentiment, though insider buying does not guarantee future performance. CFO purchase filing Insider purchase filing COO purchase filing Director purchase filing Director purchase filing CEO purchase filing
• Neutral Sentiment: H.C. Wainwright kept its Buy rating on Larimar; the report describes no rating change or new catalyst. H.C. Wainwright maintains Buy rating

Hedge Funds Weigh In On Larimar Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its holdings in Larimar Therapeutics by 54.5% during the first quarter. Sei Investments Co. now owns 16,336 shares of the company's stock worth $74,000 after buying an additional 5,763 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Larimar Therapeutics by 17.0% in the 1st quarter. Bank of America Corp DE now owns 47,359 shares of the company's stock valued at $213,000 after acquiring an additional 6,886 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Larimar Therapeutics in the 2nd quarter valued at about $27,000. Pallas Capital Advisors LLC acquired a new stake in shares of Larimar Therapeutics in the 2nd quarter valued at approximately $31,000. Finally, HB Wealth Management LLC acquired a new position in Larimar Therapeutics during the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 91.92% of the company's stock.

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.

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