The stock of Larimar Therapeutics Inc (NASDAQ: LRMR) has increased by 9.41 when compared to last closing price of 6.48.Despite this, the company has seen a gain of 13.08% in its stock price over the last five trading days. seekingalpha.com reported 2024-10-06 that Larimar Therapeutics’ CTI-1601, a potential first-in-class treatment for Friedreich’s ataxia, shows promise in modifying disease progression and restoring mitochondrial function. The company has a solid cash runway, sufficient liquidity, and trades at reasonable valuations compared to its upside potential. LRMR’s favorable Phase 1/2 trial results bolster CTI-1601’s approval odds, with a potential Biologics License Application submission by 2H2025.
Is It Worth Investing in Larimar Therapeutics Inc (NASDAQ: LRMR) Right Now?
Additionally, the 36-month beta value for LRMR is 0.99. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 4 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for LRMR is 37.27M and currently, short sellers hold a 8.92% ratio of that float. The average trading volume of LRMR on October 09, 2024 was 565.62K shares.
LRMR’s Market Performance
LRMR stock saw a decrease of 13.08% in the past week, with a monthly decline of -5.97% and a quarterly a decrease of -22.56%. The volatility ratio for the week is 9.96%, and the volatility levels for the last 30 days are 9.00% for Larimar Therapeutics Inc (LRMR). The simple moving average for the past 20 days is 5.46% for LRMR’s stock, with a -7.81% simple moving average for the past 200 days.
Analysts’ Opinion of LRMR
Many brokerage firms have already submitted their reports for LRMR stocks, with Wedbush repeating the rating for LRMR by listing it as a “Outperform.” The predicted price for LRMR in the upcoming period, according to Wedbush is $22 based on the research report published on October 03, 2024 of the current year 2024.
H.C. Wainwright, on the other hand, stated in their research note that they expect to see LRMR reach a price target of $15. The rating they have provided for LRMR stocks is “Buy” according to the report published on October 02nd, 2024.
Robert W. Baird gave a rating of “Outperform” to LRMR, setting the target price at $16 in the report published on September 04th of the current year.
LRMR Trading at -4.10% from the 50-Day Moving Average
After a stumble in the market that brought LRMR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.17% of loss for the given period.
Volatility was left at 9.00%, however, over the last 30 days, the volatility rate increased by 9.96%, as shares sank -10.14% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -21.05% lower at present.
During the last 5 trading sessions, LRMR rose by +13.08%, which changed the moving average for the period of 200-days by +84.64% in comparison to the 20-day moving average, which settled at $6.72. In addition, Larimar Therapeutics Inc saw 55.82% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at LRMR starting from Hamilton Thomas Edward, who purchase 57,208 shares at the price of $8.74 back on Feb 16 ’24. After this action, Hamilton Thomas Edward now owns 564,798 shares of Larimar Therapeutics Inc, valued at $499,998 using the latest closing price.
Flynn James E, the Director of Larimar Therapeutics Inc, purchase 4,290,617 shares at $8.74 during a trade that took place back on Feb 16 ’24, which means that Flynn James E is holding 6,151,406 shares at $37,499,993 based on the most recent closing price.
Stock Fundamentals for LRMR
The total capital return value is set at -0.3. Equity return is now at value -37.48, with -33.44 for asset returns.
Based on Larimar Therapeutics Inc (LRMR), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at -7.68.
Currently, EBITDA for the company is -41.45 million with net debt to EBITDA at 0.41. The liquidity ratio also appears to be rather interesting for investors as it stands at 10.93.
Conclusion
In conclusion, Larimar Therapeutics Inc (LRMR) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
