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An Analysis of Larimar Therapeutics Inc (LRMR)’s Potential Price Growth

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 $54.44 million.

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Then, Hamilton Thomas Edward bought 57,208 shares, generating $499,998 in total proceeds. Upon buying the shares at $8.74, the Director now owns 564,798 shares.

Before that, THOMAS FRANK E bought 2,000 shares. Larimar Therapeutics Inc shares valued at $22,000 were divested by the Director at a price of $11.00 per share. As a result of the transaction, THOMAS FRANK E now holds 2,000 shares, worth roughly $17700.0.

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 jump 8.12% to $8.85. Over the last five days, the stock has gained 7.46%. Larimar Therapeutics Inc shares have risen nearly 94.62% since the year began. Nevertheless, the stocks have risen 178.90% 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 $7.96, while 200 days put it at $6.24. A total of 1.44 million shares were traded, compared to the trading of 0.47 million shares in the previous session.

Levels Of Support And Resistance For LRMR Stock

The 24-hour chart illustrates a support level at 8.04, which if violated will result in even more drops to 7.22. On the upside, there is a resistance level at 9.67. A further resistance level may holdings at 10.48. The Relative Strength Index (RSI) on the 14-day chart is 58.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.40%. Stochastics%K at 50.12% indicates the stock is a holding.

The most recent change occurred on February 10, 2021 when JMP Securities began covering the stock and recommended ‘”a Mkt outperform”‘ rating.

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