Larimar Therapeutics Inc’s recent filing unveils that its Director Flynn James E acquired Company’s shares for reported $37.5 million on Feb 16 ’24. In the deal valued at $8.74 per share,4,290,617 shares were bought. As a result of this transaction, Flynn James E now holds 6,151,406 shares worth roughly $43.31 million.
Then, THOMAS FRANK E bought 2,000 shares, generating $22,000 in total proceeds. Upon buying the shares at $11.00, the Director now owns 2,000 shares.
Before that, Shankar Gopi bought 5,000 shares. Larimar Therapeutics Inc shares valued at $18,662 were divested by the Chief Development Officer at a price of $3.73 per share. As a result of the transaction, Shankar Gopi now holds 5,000 shares, worth roughly $35200.0.
Leerink Partners initiated its Larimar Therapeutics Inc [LRMR] rating to an Outperform in a research note published on April 03, 2024; the price target was $25. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in mid November from “a Neutral” to “a Buy”. Guggenheim began covering LRMR with “Buy” recommendation on October 19, 2022. William Blair revised its rating on February 15, 2022. It rated LRMR as “a Mkt perform” which previously was an “an Outperform”.
Price Performance Review of LRMR
On Tuesday, Larimar Therapeutics Inc [NASDAQ:LRMR] saw its stock fall -2.49% to $7.04. Over the last five days, the stock has lost -4.35%. Larimar Therapeutics Inc shares have risen nearly 54.73% since the year began. Nevertheless, the stocks have risen 57.49% over the past one year. While a 52-week high of $13.68 was reached on 02/15/24, a 52-week low of $2.18 was recorded on 01/17/24. SMA at 50 days reached $8.89, while 200 days put it at $4.98. A total of 0.28 million shares were traded, compared to the trading of 0.37 million shares in the previous session.
Levels Of Support And Resistance For LRMR Stock
The 24-hour chart illustrates a support level at 6.86, which if violated will result in even more drops to 6.68. On the upside, there is a resistance level at 7.36. A further resistance level may holdings at 7.67. The Relative Strength Index (RSI) on the 14-day chart is 35.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.91%. Stochastics %K at 11.34% indicates the stock is a buying.
How much short interest is there in Larimar Therapeutics Inc?
A steep rise in short interest was recorded in Larimar Therapeutics Inc stocks on Mar 15, 2024, growing by 1.01 million shares to a total of 1.63 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 0.62 million shares. There was a rise of 62.07%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.55% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.18.
The most recent change occurred on February 10, 2021 when JMP Securities began covering the stock and recommended ‘”a Mkt outperform”‘ rating .
