Larimar Therapeutics Target of Unusually High Options Trading (NASDAQ:LRMR)

Key Points

• Larimar Therapeutics experienced an **unusual increase** in options trading, with 3,680 call options bought, up **234%** from its normal volume.
• Director James E. Flynn made a significant insider purchase of **9,375,000 shares** at $3.20 each, totaling **$30 million**, substantially increasing his stake in the company.
• Wall Street analysts remain bullish on Larimar, with nine analysts rating the stock as a **buy** and an average price target of **$18.43**.

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) was the target of unusually large options trading on Friday. Stock traders bought 3,680 call options on the stock. This represents an increase of approximately 234% compared to the typical daily volume of 1,101 call options.

Insider Activity at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn purchased 9,375,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were 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 owned 9,538,945 shares in the company, valued at $30,524,624. The trade was a 5,718.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Larimar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of Larimar Therapeutics during the 4th quarter worth $25,000. Walleye Capital LLC purchased a new stake in shares of Larimar Therapeutics during the first quarter worth $37,000. Savant Capital LLC acquired a new position in Larimar Therapeutics during the second quarter worth $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in Larimar Therapeutics during the second quarter worth $44,000. Finally, Algert Global LLC increased its position in Larimar Therapeutics by 91.0% during the first quarter. Algert Global LLC now owns 23,280 shares of the company's stock worth $50,000 after buying an additional 11,090 shares during the last quarter. 91.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on LRMR shares. Guggenheim restated a "buy" rating and set a $26.00 price objective on shares of Larimar Therapeutics in a research note on Tuesday, June 24th. JMP Securities dropped their price target on 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 dropped their price target on Larimar Therapeutics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Finally, Citigroup reiterated a "buy" rating on shares of Larimar Therapeutics in a research report on Tuesday, June 24th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $18.43.

Larimar Therapeutics Stock Up 7.7%

NASDAQ LRMR traded up $0.38 on Friday, reaching $5.24. 936,132 shares of the stock traded hands, compared to its average volume of 1,167,596. The firm's fifty day simple moving average is $3.85 and its 200 day simple moving average is $2.93. The company has a market cap of $433.35 million, a price-to-earnings ratio of -3.38 and a beta of 0.91. Larimar Therapeutics has a 12 month low of $1.61 and a 12 month high of $9.50.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last issued its quarterly 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. As a group, equities research analysts forecast that Larimar Therapeutics will post -1.15 EPS for the current fiscal year.

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.

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