Latigo Biotherapeutics (NASDAQ:LTGO) Sets New 12-Month Low – Time to Sell?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) reached a new 52-week low during trading on Friday. The company traded as low as $16.04 and last traded at $16.13, with a volume of 65602 shares trading hands. The stock had previously closed at $16.69.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Jefferies Financial Group started coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price target on the stock. Leerink Partners assumed coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price target on the stock. Guggenheim started coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $73.00 target price for the company. Finally, Wall Street Zen upgraded Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $52.25.

Latigo Biotherapeutics Stock Down 2.4%

Latigo Biotherapeutics (NASDAQ:LTGO) last announced its quarterly earnings data on Thursday, September 3rd. The company reported ($27.59) earnings per share for the quarter.

Insider Buying and Selling at Latigo Biotherapeutics

In other Latigo Biotherapeutics news, Director James B. Tananbaum purchased 140,000 shares of the stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the transaction, the director directly owned 2,008,024 shares of the company’s stock, valued at approximately $36,144,432. This trade represents a 7.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Foresite Capital Management V, purchased 140,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the purchase, the insider directly owned 2,008,024 shares of the company’s stock, valued at $36,144,432. This trade represents a 7.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Latigo Biotherapeutics Company Profile

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.