Latigo Biotherapeutics (NASDAQ:LTGO) Shares Down 6.1% – What’s Next?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) fell 6.1% on Monday . The company traded as low as $22.18 and last traded at $22.76. 58,832 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 220,511 shares. The stock had previously closed at $24.23.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Latigo Biotherapeutics to a “hold” rating in a research note on Saturday, August 15th.

Latigo Biotherapeutics Stock Performance

Insider Activity

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 stock was bought at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the purchase, the insider owned 2,008,024 shares of the company’s stock, valued at $36,144,432. This represents a 7.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James B. Tananbaum bought 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the acquisition, the director 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 ownership of the stock. The SEC filing for this purchase provides additional information.

About Latigo Biotherapeutics

Latigo Biotherapeutics Inc is a clinical-stage biopharmaceutical company committed to developing innovative non-opioid pain medicines designed to stop the transmission of pain without the risk of addiction. Its lead product candidate includes LTG-001. Latigo Biotherapeutics Inc is based in THOUSAND OAKS, Calif.