Latigo Biotherapeutics, Inc. (NASDAQ:LTGO – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $15.27 and last traded at $15.52, with a volume of 241,512 shares. The stock had previously closed at $16.26.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Jefferies Financial Group assumed coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 target price on the stock. The Goldman Sachs Group started coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $73.00 price objective for the company. Guggenheim assumed coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Leerink Partners began coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price target on the stock. Four research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $52.25.
Latigo Biotherapeutics Price Performance
Latigo Biotherapeutics (NASDAQ:LTGO – Get Free Report) last released its earnings results on Thursday, September 3rd. The company reported ($27.59) earnings per share (EPS) for the quarter.
Insider Buying and Selling at Latigo Biotherapeutics
In other news, major shareholder Foresite Capital Management V, acquired 140,000 shares of Latigo Biotherapeutics stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the completion of the purchase, the insider directly owned 2,008,024 shares of the company’s stock, valued at approximately $36,144,432. This represents a 7.49% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Tananbaum bought 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the purchase, the director owned 2,008,024 shares of the company’s stock, valued at approximately $36,144,432. The trade was a 7.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.
About Latigo Biotherapeutics
Latigo Biotherapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing non-opioid treatments for acute and chronic pain. The company’s research centers on selectively targeting Nav1.8, a sodium channel involved in the transmission of pain signals, with the goal of creating therapies that may provide pain relief without the risks associated with opioid medicines.
Latigo’s pipeline includes small-molecule Nav1.8 inhibitors, including LTG-001, an investigational candidate being evaluated for pain-related conditions.
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