Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Larimar Therapeutics Inc shares valued at $499,998 were purchased by Hamilton Thomas Edward on Feb 16 ’24. At $8.74 per share, Hamilton Thomas Edward acquired 57,208 shares. The insider’s holdings grew to 564,798 shares worth approximately $4.78 million following the completion of this transaction.
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Also, Flynn James E purchased 4,290,617 shares, netting a total of over 37,499,993 in proceeds. Following the buying of shares at $8.74 each, the insider now holds 6,151,406 shares.
Before that, THOMAS FRANK E had added 2,000 shares to its account. In a trade valued at $22,000, the Director bought Larimar Therapeutics Inc shares for $11.00 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $16920.0.
As published in their initiating research note from Oppenheimer on October 16, 2024, Larimar Therapeutics Inc [LRMR] has been an Outperform and the price target has been revised to $26. Analysts at Wedbush started covering the stock with ‘”an Outperform”‘ outlook in a report released in early October. As of October 02, 2024, H.C. Wainwright has initiated its “Buy” rating for LRMR. Earlier on September 04, 2024, Robert W. Baird initiated its rating. Their recommendation was “an Outperform” for LRMR stock.
Analyzing LRMR Stock Performance
During the last five days, there has been a surge of approximately 15.10%. Over the course of the year, Larimar Therapeutics Inc shares have jumped approximately 85.93%. 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 $7.33, while a 200-day SMA reached $7.93. Nevertheless, trading volume fell to 0.77 million shares from 0.25 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 8.01, which, if violated, would cause prices to drop to 7.56. In the upper region, resistance lies at 8.80. The next price resistance is at 9.13. RSI (Relative Strength Index) is 65.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.40, which suggests the price will decrease in the coming days. Percent R is at 11.76%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
