Latigo Biotherapeutics (NASDAQ:LTGO) Shares Down 22.4% – Should You Sell?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) shares were down 22.4% on Thursday. The stock traded as low as $10.24 and last traded at $10.89. Approximately 51,744 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 280,885 shares. The stock had previously closed at $14.04.

Wall Street Analyst Weigh In

LTGO has been the topic of a number of recent analyst reports. Weiss Ratings assumed coverage on shares of Latigo Biotherapeutics in a research report on Tuesday. They set a “sell (e-)” rating on the stock. Guggenheim initiated coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group initiated coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $73.00 price objective on the stock. Wall Street Zen downgraded Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Finally, Jefferies Financial Group started coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Latigo Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $52.25.

Latigo Biotherapeutics Price Performance

The stock has a market cap of $873.17 million and a P/E ratio of -0.25. The firm’s fifty day moving average price is $18.42.

Latigo Biotherapeutics (NASDAQ:LTGO) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.55) earnings per share (EPS) for the quarter.

Insider Activity at Latigo Biotherapeutics

In other Latigo Biotherapeutics news, Director James B. Tananbaum purchased 140,000 shares of the firm’s stock in a transaction dated 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 purchase, the director 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Foresite Capital Management V, acquired 140,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired 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 of the company’s stock, valued at $36,144,432. The trade was a 7.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

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.