Latigo Biotherapeutics (NASDAQ:LTGO) Sets New 1-Year Low – What’s Next?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO)’s share price hit a new 52-week low during trading on Friday. The stock traded as low as $17.05 and last traded at $17.31, with a volume of 132657 shares. The stock had previously closed at $17.76.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Guggenheim initiated coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $50.00 target price for the company. Leerink Partners assumed coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They set an “outperform” rating and a $36.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $73.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Wall Street Zen cut shares of Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Latigo Biotherapeutics currently has an average rating of “Buy” and an average target price of $52.25.

Latigo Biotherapeutics Stock Performance

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

Insider Activity at Latigo Biotherapeutics

In other Latigo Biotherapeutics news, Director James B. Tananbaum acquired 140,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the purchase, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Foresite Capital Management V, purchased 140,000 shares of the stock in a transaction 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 completion of the purchase, the insider directly owned 2,008,024 shares of the company’s stock, valued at $36,144,432. The trade was a 7.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

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.