203,363 Shares in Larimar Therapeutics, Inc. $LRMR Purchased by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in Larimar Therapeutics, Inc. (NASDAQ:LRMR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 203,363 shares of the company’s stock, valued at approximately $620,000. Ieq Capital LLC owned 0.20% of Larimar Therapeutics at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pallas Capital Advisors LLC acquired a new position in shares of Larimar Therapeutics in the 2nd quarter worth approximately $31,000. BNP Paribas Financial Markets boosted its position in shares of Larimar Therapeutics by 75.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,146 shares of the company’s stock worth $33,000 after purchasing an additional 4,376 shares during the period. Coldstream Capital Management Inc. acquired a new stake in Larimar Therapeutics in the 3rd quarter valued at approximately $57,000. Walleye Trading LLC acquired a new stake in Larimar Therapeutics in the 2nd quarter valued at approximately $61,000. Finally, Sei Investments Co. raised its position in Larimar Therapeutics by 54.5% in the first quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock valued at $74,000 after purchasing an additional 5,763 shares during the period. Institutional investors and hedge funds own 91.92% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas Edward Hamilton bought 50,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average cost of $3.34 per share, with a total value of $167,000.00. Following the purchase, the director directly owned 714,798 shares of the company’s stock, valued at $2,387,425.32. This trade represents a 7.52% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 4.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LRMR has been the topic of a number of research reports. Robert W. Baird decreased their price target on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. HC Wainwright began coverage on Larimar Therapeutics in a research note on Thursday, July 2nd. They issued a “buy” rating and a $10.00 price objective for the company. Wedbush cut their price objective on Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Wednesday, August 5th. Wall Street Zen raised Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Citigroup restated a “buy” rating on shares of Larimar Therapeutics in a report on Tuesday, June 30th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $11.67.

Larimar Therapeutics Stock Down 1.0%

Larimar Therapeutics stock opened at $4.01 on Friday. The firm has a market cap of $416.56 million, a PE ratio of -2.06 and a beta of 0.81. Larimar Therapeutics, Inc. has a 52-week low of $2.71 and a 52-week high of $6.42. The company’s 50 day moving average is $3.87 and its two-hundred day moving average is $4.06.

Larimar Therapeutics (NASDAQ:LRMR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.08. On average, equities research analysts anticipate that Larimar Therapeutics, Inc. will post -1.5 earnings per share for the current fiscal year.

Larimar Therapeutics 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.