Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Larimar Therapeutics Inc shares valued at $37,499,993 were purchased by Flynn James E on Feb 16 ’24. At $8.74 per share, Flynn James E acquired 4,290,617 shares. The insider’s holdings grew to 6,151,406 shares worth approximately $45.21 million following the completion of this transaction.
Also, THOMAS FRANK E purchased 2,000 shares, netting a total of over 22,000 in proceeds. Following the buying of shares at $11.00 each, the insider now holds 2,000 shares.
Before that, Shankar Gopi had added 5,000 shares to its account. In a trade valued at $18,662, the Chief Development Officer bought Larimar Therapeutics Inc shares for $3.73 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $36750.0.
As published in their initiating research note from Leerink Partners on April 03, 2024, Larimar Therapeutics Inc [LRMR] has been an Outperform and the price target has been revised to $25. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid November. As of October 19, 2022, Guggenheim has initiated its “Buy” rating for LRMR. Earlier on February 15, 2022, William Blair downgraded its rating. Their new recommendation was “a Mkt perform” for LRMR stock which previously was a “an Outperform”.
Analyzing LRMR Stock Performance
During the last five days, there has been a surge of approximately 13.78%. Over the course of the year, Larimar Therapeutics Inc shares have jumped approximately 61.54%. Shares of the company reached a 52-week high of $13.68 on 02/15/24 and a 52-week low of $4.09 on 01/17/24. A 50-day SMA is recorded $8.51, while a 200-day SMA reached $5.27. Nevertheless, trading volume fell to 0.39 million shares from 0.27 million shares the previous day.
Support And Resistance Levels for Larimar Therapeutics Inc (LRMR)
According to the 24-hour chart, there is a support level at 6.91, which, if violated, would cause prices to drop to 6.46. In the upper region, resistance lies at 7.75. The next price resistance is at 8.14. RSI (Relative Strength Index) is 52.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.21, which suggests the price will decrease in the coming days. Percent R is at 19.55%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
