Latigo Biotherapeutics (NASDAQ:LTGO) Reaches New 52-Week Low – What’s Next?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) reached a new 52-week low on Monday. The stock traded as low as $13.26 and last traded at $13.51, with a volume of 289,064 shares trading hands. The stock had previously closed at $13.95.

Analysts Set New Price Targets

LTGO has been the topic of several recent research reports. Jefferies Financial Group 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. Leerink Partners began coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set an “outperform” rating and a $36.00 target price for the company. The Goldman Sachs Group started coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $73.00 target price for the company. Guggenheim started coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.25.

Latigo Biotherapeutics Stock Down 3.6%

The stock’s fifty day simple moving average is $18.42.

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

Insider Activity

In other news, Director James B. Tananbaum purchased 140,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the purchase, the director 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. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Foresite Capital Management V, purchased 140,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $2,520,000.00. Following the completion of the acquisition, 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 position. The SEC filing for this purchase provides additional information.

Latigo Biotherapeutics Company Profile

Latigo Biotherapeutics, Inc is a clinical-stage biopharmaceutical company developing non-opioid treatments for pain. The company focuses on therapies designed to selectively target Nav1.8, a sodium channel expressed in peripheral sensory neurons that plays an important role in the transmission of pain signals.

Latigo’s lead product candidate, LTG-001, is an oral, selective Nav1.8 inhibitor being developed for the treatment of acute and chronic pain conditions. By targeting pain signaling outside the central nervous system, the company aims to develop alternatives to opioid medicines and other pain treatments that may carry significant safety or tolerability concerns.