Short Interest in Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) Grows By ?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 134,468 shares, an increase of ? from the July 30th total of 0 shares. Based on an average daily trading volume, of 473,636 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s stock are short sold.

Insider Activity

In related news, Director James B. Tananbaum acquired 140,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the acquisition, the director directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foresite Capital Management V, bought 140,000 shares of Latigo Biotherapeutics stock in a transaction that occurred 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 purchase, 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 SEC filing for this purchase provides additional information.

Wall Street Analyst Weigh In

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

Latigo Biotherapeutics Trading Down 3.1%

Shares of NASDAQ:LTGO traded down $0.77 during midday trading on Friday, reaching $24.23. The company’s stock had a trading volume of 217,741 shares, compared to its average volume of 437,250. Latigo Biotherapeutics has a twelve month low of $17.22 and a twelve month high of $25.93.

Latigo Biotherapeutics Company Profile

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.