Latigo Biotherapeutics (NASDAQ:LTGO) Stock Price Down 6.1% – What’s Next?

Shares of Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) were down 6.1% during mid-day trading on Monday . The company traded as low as $22.18 and last traded at $22.76. 58,832 shares were traded during mid-day trading, a decline of 73% from the average session volume of 220,511 shares. The stock had previously closed at $24.23.

Analysts Set New Price Targets

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

Latigo Biotherapeutics Trading Down 6.6%

Insider Buying and Selling

In related news, Director James B. Tananbaum acquired 140,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $18.00 per share, for a total transaction 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 approximately $36,144,432. The trade was a 7.49% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Foresite Capital Management V, acquired 140,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $18.00 per share, for a total transaction 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. This trade represents a 7.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

About Latigo Biotherapeutics

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.