Hennion & Walsh Asset Management Inc. purchased a new position in shares of Larimar Therapeutics, Inc. (NASDAQ:LRMR – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 396,726 shares of the company’s stock, valued at approximately $1,210,000. Hennion & Walsh Asset Management Inc. owned approximately 0.38% of Larimar Therapeutics at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Larimar Therapeutics during the 1st quarter valued at approximately $241,000. Acadian Asset Management LLC acquired a new stake in Larimar Therapeutics in the 1st quarter valued at $113,000. Rhumbline Advisers increased its holdings in Larimar Therapeutics by 15.7% in the 1st quarter. Rhumbline Advisers now owns 65,018 shares of the company’s stock worth $140,000 after acquiring an additional 8,818 shares in the last quarter. American Century Companies Inc. increased its holdings in Larimar Therapeutics by 7.8% in the 2nd 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. Finally, Cerity Partners LLC acquired a new position in Larimar Therapeutics during the second quarter worth $636,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Thomas Edward Hamilton purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was purchased at an average price of $3.34 per share, with a total value of $167,000.00. Following the completion of the acquisition, the director owned 714,798 shares in the company, valued at $2,387,425.32. This trade represents a 7.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is owned by company insiders.
Larimar Therapeutics Stock Up 1.4%
Larimar Therapeutics (NASDAQ:LRMR – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.08. On average, research analysts anticipate that Larimar Therapeutics, Inc. will post -1.5 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have issued reports on LRMR. HC Wainwright initiated coverage on shares of Larimar Therapeutics in a report on Thursday, July 2nd. They set a “buy” rating and a $10.00 price objective on the stock. Wall Street Zen upgraded shares of Larimar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup reaffirmed a “buy” rating on shares of Larimar Therapeutics in a research note on Tuesday, June 30th. Robert W. Baird cut their price objective on Larimar Therapeutics from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Finally, Wedbush reduced their target price on Larimar Therapeutics from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $12.57.
View Our Latest Analysis on LRMR
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.
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