James Flynn Acquires 5,000,000 Shares of Larimar Therapeutics (NASDAQ:LRMR) Stock

Larimar Therapeutics, Inc. (NASDAQ:LRMR) Director James Flynn purchased 5,000,000 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $5.00 per share, for a total transaction of $25,000,000.00. Following the completion of the purchase, the director directly owned 10,622,957 shares in the company, valued at $53,114,785. The trade was a 88.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Larimar Therapeutics Stock Performance

Shares of LRMR stock traded down $0.08 during trading hours on Monday, reaching $5.23. The company had a trading volume of 2,318,060 shares, compared to its average volume of 9,091,379. The stock’s fifty day simple moving average is $3.59 and its 200 day simple moving average is $3.81. The company has a market capitalization of $432.94 million, a P/E ratio of -2.71 and a beta of 0.90. Larimar Therapeutics, Inc. has a twelve month low of $1.61 and a twelve month high of $6.42.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Leerink Partners upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Monday, January 5th. Citigroup upped their price target on shares of Larimar Therapeutics from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Lifesci Capital upgraded shares of Larimar Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a report on Thursday, January 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of Larimar Therapeutics in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $16.14.

Institutional Investors Weigh In On Larimar Therapeutics

Large investors have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of Larimar Therapeutics by 10.3% in the third quarter. CWM LLC now owns 36,013 shares of the company’s stock worth $116,000 after purchasing an additional 3,361 shares during the period. BNP Paribas Financial Markets boosted its stake 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 valued at $33,000 after purchasing an additional 4,376 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Larimar Therapeutics by 33.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,248 shares of the company’s stock worth $59,000 after acquiring an additional 4,619 shares in the last quarter. Velan Capital Investment Management LP boosted its holdings in Larimar Therapeutics by 17.9% in the second quarter. Velan Capital Investment Management LP now owns 33,000 shares of the company’s stock worth $95,000 after acquiring an additional 5,000 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Larimar Therapeutics by 7.8% during the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock valued at $200,000 after acquiring an additional 5,001 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company’s stock.

About Larimar Therapeutics

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.