Larimar Therapeutics Sees Unusually High Options Volume (NASDAQ:LRMR)

Larimar Therapeutics, Inc. (NASDAQ:LRMR) was the target of some unusual options trading activity on Friday. Stock investors purchased 3,011 call options on the company. This represents an increase of approximately 250% compared to the typical volume of 861 call options.

Insider Transactions at Larimar Therapeutics

In other Larimar Therapeutics news, Director James E. Flynn bought 5,000,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost 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 in the company, valued at approximately $53,114,785. This represents a 88.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Larimar Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in LRMR. AQR Capital Management LLC bought a new stake in Larimar Therapeutics in the first quarter worth approximately $241,000. Acadian Asset Management LLC acquired a new stake in shares of Larimar Therapeutics during the 1st quarter worth approximately $113,000. Rhumbline Advisers increased its stake in shares of Larimar Therapeutics by 15.7% in the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock valued at $140,000 after acquiring an additional 8,818 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Larimar Therapeutics during the 2nd quarter valued at $39,000. Finally, American Century Companies Inc. boosted its stake in Larimar Therapeutics by 7.8% during the second quarter. American Century Companies Inc. now owns 69,285 shares of the company’s stock worth $200,000 after acquiring an additional 5,001 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

Wall Street Analysts Forecast Growth

LRMR has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Thursday, January 22nd. Leerink Partners raised shares of Larimar Therapeutics to a “strong-buy” rating in a research note on Monday, January 5th. Wedbush raised their target price on Larimar Therapeutics from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Lifesci Capital raised Larimar Therapeutics to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, Citigroup upped their price target on Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Larimar Therapeutics presently has an average rating of “Buy” and an average target price of $16.29.

Larimar Therapeutics Trading Down 3.9%

LRMR stock traded down $0.19 during midday trading on Friday, hitting $4.59. The stock had a trading volume of 1,924,872 shares, compared to its average volume of 4,745,010. The firm has a market cap of $474.96 million, a P/E ratio of -2.38 and a beta of 0.91. The business has a fifty day moving average price of $3.82 and a two-hundred day moving average price of $3.89. Larimar Therapeutics has a 1-year low of $1.61 and a 1-year high of $6.42.

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.