Insider Buying: Larimar Therapeutics (NASDAQ:LRMR) COO Acquires $49,840.00 in Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) COO John Jr. Harlow purchased 17,800 shares of the business’s stock in a transaction on Wednesday, November 11th. The shares were bought at an average price of $2.80 per share, with a total value of $49,840.00. Following the purchase, the chief operating officer directly owned 67,800 shares in the company, valued at approximately $189,840. The trade was a 35.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Larimar Therapeutics Stock Performance

LRMR traded up $0.32 during midday trading on Friday, reaching $3.02. 2,531,459 shares of the company were exchanged, compared to its average volume of 1,257,255. The company’s fifty day moving average price is $2.93 and its 200 day moving average price is $3.76. The company has a market cap of $313.72 million, a price-to-earnings ratio of -1.55 and a beta of 0.73. Larimar Therapeutics, Inc. has a one year low of $1.91 and a one year high of $6.42.

Latest Larimar Therapeutics News

These are some of the LRMR news items that stood out recently:

• Positive Sentiment: CEO Carole Ben-Maimon, CFO Michael Celano, COO John B. Jr. Harlow, insider Gopi Shankar, and directors Frank Thomas and Joseph Truitt together purchased 52,810 shares for roughly $195,000. Director Thomas Hamilton separately bought 70,000 shares for $186,900. Insider purchase report Hamilton SEC filing
• Neutral Sentiment: The supplied coverage also notes H.C. Wainwright maintained a Buy rating; no rating change or fresh price-moving catalyst was reported. Analyst rating report

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LRMR shares. Wall Street Zen cut Larimar Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, October 15th. Leerink Partners started coverage on Larimar Therapeutics in a research report on Monday, September 14th. They issued an “outperform” rating and a $13.00 price target for the company. Finally, Wedbush reissued an “outperform” rating on shares of Larimar Therapeutics in a research report on Tuesday, November 10th. Two investment 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $10.33.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in Larimar Therapeutics in the 2nd quarter valued at $27,000. Pallas Capital Advisors LLC purchased a new stake in shares of Larimar Therapeutics during the 2nd quarter valued at $31,000. HB Wealth Management LLC bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth $49,000. The Manufacturers Life Insurance Company bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth $60,000. Finally, Walleye Trading LLC bought a new stake in shares of Larimar Therapeutics during the 2nd quarter worth $61,000. Institutional investors 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.