Larimar Therapeutics (NASDAQ:LRMR) Stock Rating Upgraded by Truist Financial

Key Points

• Truist Financial upgraded Larimar Therapeutics to a "strong-buy"; overall analyst mix is three Strong Buy, six Buy and one Sell with a consensus price target of $16.50.
• Director James E. Flynn bought 5,000,000 shares at $5.00 each (a $25,000,000 purchase), increasing his holding to 10,622,957 shares; corporate insiders own about 4.5% of the stock.
• Larimar reported an EPS miss, posting ($0.73) vs. an expected ($0.43); the stock recently opened at $4.68 with a market cap of ~$486 million and a 52-week range of $1.61–$6.42.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) was upgraded by research analysts at Truist Financial to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on LRMR. 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. Lifesci Capital raised shares of Larimar Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 24th. Leerink Partners raised shares of Larimar Therapeutics to a "strong-buy" rating in a report on Monday, January 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Larimar Therapeutics in a research report on Thursday, January 22nd. Finally, Citigroup lifted their price objective on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $16.50.

Larimar Therapeutics Stock Up 2.4%

Larimar Therapeutics stock opened at $4.68 on Wednesday. The stock has a market cap of $486.16 million, a price-to-earnings ratio of -2.12 and a beta of 0.91. The business has a 50-day simple moving average of $4.03 and a 200 day simple moving average of $3.94. Larimar Therapeutics has a 52 week low of $1.61 and a 52 week high of $6.42.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.30). On average, research analysts anticipate that Larimar Therapeutics will post -1.15 earnings per share for the current year.

Insider Buying and Selling at Larimar Therapeutics

In other news, Director James E. Flynn bought 5,000,000 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $5.00 per share, for a total transaction of $25,000,000.00. Following the transaction, the director directly owned 10,622,957 shares of the company's stock, valued at $53,114,785. This represents a 88.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LRMR. XTX Topco Ltd raised its stake in shares of Larimar Therapeutics by 127.1% during the fourth quarter. XTX Topco Ltd now owns 118,938 shares of the company's stock worth $453,000 after acquiring an additional 66,569 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Larimar Therapeutics by 195.4% in the 4th quarter. Quadrature Capital Ltd now owns 57,646 shares of the company's stock worth $220,000 after acquiring an additional 38,131 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Larimar Therapeutics by 7.2% in the 4th quarter. Millennium Management LLC now owns 5,206,364 shares of the company's stock valued at $19,836,000 after purchasing an additional 349,533 shares in the last quarter. Man Group plc purchased a new stake in shares of Larimar Therapeutics in the 4th quarter valued at $149,000. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Larimar Therapeutics by 42.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 111,216 shares of the company's stock valued at $424,000 after purchasing an additional 33,000 shares during the last quarter. 91.92% of the stock is currently owned by institutional investors.

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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