Latigo Biotherapeutics, Inc. (NASDAQ:LTGO – Get Free Report)’s stock price was down 4.9% during mid-day trading on Monday . The stock traded as low as $21.30 and last traded at $21.44. Approximately 96,653 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 274,418 shares. The stock had previously closed at $22.55.
Analysts Set New Price Targets
LTGO has been the topic of a number of research reports. Leerink Partners assumed coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set an “outperform” rating and a $36.00 price target on the stock. Jefferies Financial Group initiated coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective on the stock. Guggenheim began coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective on the stock. Wall Street Zen cut Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Finally, The Goldman Sachs Group began coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $73.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $52.25.
Check Out Our Latest Analysis on Latigo Biotherapeutics
Latigo Biotherapeutics Stock Performance
Insider Transactions at Latigo Biotherapeutics
In related news, major shareholder Foresite Capital Management V, purchased 140,000 shares of Latigo Biotherapeutics stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the transaction, the insider directly owned 2,008,024 shares in the company, valued at $36,144,432. The trade was a 7.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James B. Tananbaum purchased 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was bought 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 director directly owned 2,008,024 shares in the company, valued at approximately $36,144,432. This trade represents a 7.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.
About Latigo Biotherapeutics
Latigo Biotherapeutics is a clinical-stage biopharmaceutical company developing non-opioid medicines for the treatment of acute and chronic pain. The company focuses on selectively targeting Nav1.8, a sodium channel involved in the transmission of pain signals, with the goal of developing therapies that may provide pain relief without the risks associated with opioid medications.
Latigo’s pipeline includes small-molecule Nav1.8 inhibitors, led by LTG-001 for acute pain and additional research programs aimed at chronic pain conditions.
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