Latigo Biotherapeutics (NASDAQ:LTGO) Shares Down 5.7% – Should You Sell?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) traded down 5.7% on Wednesday. The stock traded as low as $17.02 and last traded at $17.06. Approximately 84,091 shares changed hands during trading, a decline of 72% from the average daily volume of 300,072 shares. The stock had previously closed at $18.10.

Analysts Set New Price Targets

Several equities analysts have commented on LTGO shares. Leerink Partners started coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price target on the stock. Wall Street Zen upgraded shares of Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group 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 for the company. The Goldman Sachs Group started coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $73.00 price objective for the company. Finally, Guggenheim assumed 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. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $52.25.

Latigo Biotherapeutics Stock Performance

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 at Latigo Biotherapeutics

In related news, Director James B. Tananbaum bought 140,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were acquired 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 in the company, valued at approximately $36,144,432. This trade represents a 7.49% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foresite Capital Management V, purchased 140,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were bought 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 of the company’s stock, valued at approximately $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.