The shares were acquired in multiple transactions at prices ranging from $3.33 to $3.35 per share.
- Following the transaction, Thomas E. Hamilton directly owns 714,798 shares.
- Earlier this month, H.C. Wainwright initiated coverage of Larimar with a ‘Buy’ rating and a $10 price target.
- H.C. Wainwright forecasts a commercial launch of Larimar’s nomlabofusp in 2027.
Shares of Larimar Therapeutics, Inc. (LRMR) jumped 3% after hours on Wednesday after its director, Thomas E. Hamilton, purchased 50,000 shares of the company’s common stock.
The shares were acquired in multiple transactions at prices ranging from $3.33 to $3.35 per share, for a weighted average price of $3.3378. The total value of the purchase was approximately $166,890.
Following the transaction, Hamilton directly owns 714,798 shares. He also holds 159,433 shares indirectly through Post Edison, LLC.
Larimar Pipeline Development Efforts
Larimar Therapeutics is a clinical-stage biotech company developing nomlabofusp, a potential treatment for Friedreich’s ataxia (FA). The company recently submitted the first module of a rolling Biologics License Application (BLA) to the FDA for accelerated approval.
The remaining modules of the application are slated to be filed in the second half of the year.
Earlier this month, H.C. Wainwright initiated coverage of Larimar with a ‘Buy’ rating and a $10 price target, highlighting the firm’s regulatory progress for nomlabofusp as a key driver of value.
The analyst expects Larimar to submit its full Biologics License Application (BLA) for nomlabofusp later this year. The note stated the filing is likely to receive priority review from the FDA, which could shorten the standard review timeline and speed up a potential approval decision.
H.C. Wainwright forecasts a commercial launch of nomlabofusp in 2027, with first-year U.S. sales of $47.9 million. The firm projects peak annual sales could exceed $1.1 billion by 2040, reflecting strong commercial potential in the rare disease space.
How Did LRMR Retail Traders React?
On Stocktwits, retail sentiment around LRMR stock stayed within the ‘bearish’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.
A Stocktwits user highlighted that the director has “lot of shares” and has been putting in “real money” into the stock.
Another user focused on the company’s potential with regard to its pipeline and opined that if nomlabofusp is approved in Friedreich’s ataxia, it could open the “floodgates for reevaluation to the multibillion range.”
LRMR stock has fallen by about 5% year-to-date.
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