Larimar Therapeutics (NASDAQ:LRMR) Upgraded to Outperform by William Blair

William Blair upgraded shares of Larimar Therapeutics (NASDAQ:LRMRGet Rating) from a market perform rating to an outperform rating in a research report sent to investors on Monday morning, Marketbeat reports. William Blair also issued estimates for Larimar Therapeutics’ Q3 2022 earnings at ($0.23) EPS, Q4 2022 earnings at ($0.24) EPS, FY2022 earnings at ($1.24) EPS, Q1 2023 earnings at ($0.24) EPS, Q2 2023 earnings at ($0.24) EPS, Q3 2023 earnings at ($0.25) EPS, Q4 2023 earnings at ($0.25) EPS and FY2023 earnings at ($0.97) EPS.

Separately, Lifesci Capital upgraded Larimar Therapeutics from a market perform rating to an outperform rating in a research report on Friday, August 12th.

Larimar Therapeutics Stock Performance

NASDAQ LRMR opened at $3.26 on Monday. The company has a market capitalization of $57.73 million, a P/E ratio of -1.37 and a beta of 0.95. Larimar Therapeutics has a one year low of $1.53 and a one year high of $13.69. The stock has a 50 day moving average price of $2.50 and a 200-day moving average price of $2.88.

Larimar Therapeutics (NASDAQ:LRMRGet Rating) last posted its earnings results on Thursday, August 11th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.15. As a group, equities analysts predict that Larimar Therapeutics will post -1.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael Celano purchased 31,746 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was bought at an average cost of $3.15 per share, for a total transaction of $99,999.90. Following the completion of the transaction, the chief financial officer now directly owns 31,746 shares in the company, valued at $99,999.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Larimar Therapeutics news, CFO Michael Celano bought 31,746 shares of Larimar Therapeutics stock in a transaction on Friday, September 16th. The shares were acquired at an average price of $3.15 per share, for a total transaction of $99,999.90. Following the completion of the purchase, the chief financial officer now directly owns 31,746 shares in the company, valued at approximately $99,999.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Edward Hamilton bought 317,460 shares of Larimar Therapeutics stock in a transaction on Friday, September 16th. The stock was acquired at an average price of $3.15 per share, for a total transaction of $999,999.00. Following the purchase, the director now owns 507,590 shares of the company’s stock, valued at $1,598,908.50. The disclosure for this purchase can be found here. Insiders purchased a total of 666,666 shares of company stock worth $2,099,998 over the last three months. 6.67% of the stock is owned by insiders.

Institutional Trading of Larimar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of LRMR. Verition Fund Management LLC increased its stake in Larimar Therapeutics by 80.0% in the first quarter. Verition Fund Management LLC now owns 424,599 shares of the company’s stock worth $1,720,000 after purchasing an additional 188,764 shares during the period. Opaleye Management Inc. increased its stake in shares of Larimar Therapeutics by 6.1% during the fourth quarter. Opaleye Management Inc. now owns 883,602 shares of the company’s stock valued at $9,534,000 after buying an additional 50,795 shares during the period. Bank of America Corp DE increased its stake in shares of Larimar Therapeutics by 60.3% during the first quarter. Bank of America Corp DE now owns 116,223 shares of the company’s stock valued at $471,000 after buying an additional 43,713 shares during the period. Ghost Tree Capital LLC increased its stake in shares of Larimar Therapeutics by 12.5% during the fourth quarter. Ghost Tree Capital LLC now owns 225,000 shares of the company’s stock valued at $2,428,000 after buying an additional 25,000 shares during the period. Finally, DAFNA Capital Management LLC increased its stake in shares of Larimar Therapeutics by 8.8% during the fourth quarter. DAFNA Capital Management LLC now owns 70,177 shares of the company’s stock valued at $757,000 after buying an additional 5,690 shares during the period. Hedge funds and other institutional investors own 81.44% of the company’s stock.

About Larimar Therapeutics

(Get Rating)

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 1 clinical trial for the treatment of Friedreich's ataxia, a rare, progressive, and fatal genetic disease.

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