Latigo Biotherapeutics (NASDAQ:LTGO) Hits New 1-Year Low – Should You Sell?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO)’s share price reached a new 52-week low on Friday. The stock traded as low as $16.04 and last traded at $16.13, with a volume of 65602 shares changing hands. The stock had previously closed at $16.69.

Analyst Ratings Changes

Several brokerages have weighed in on LTGO. The Goldman Sachs Group began 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. Guggenheim started coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective for the company. Leerink Partners started coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 target price on the stock. Jefferies Financial Group began coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Wall Street Zen raised shares of Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $52.25.

Latigo Biotherapeutics Trading Down 2.4%

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

Insider Buying and Selling at Latigo Biotherapeutics

In other Latigo Biotherapeutics news, Director James B. Tananbaum purchased 140,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the acquisition, the director owned 2,008,024 shares of the company’s stock, valued at approximately $36,144,432. This represents a 7.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Foresite Capital Management V, purchased 140,000 shares of Latigo Biotherapeutics stock in a transaction on 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 completion of the acquisition, 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 position. 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 focused on developing non-opioid treatments for acute and chronic pain. The company’s research centers on selectively targeting Nav1.8, a sodium channel involved in the transmission of pain signals, with the goal of creating therapies that may provide pain relief without the risks associated with opioid medicines.

Latigo’s pipeline includes small-molecule Nav1.8 inhibitors, including LTG-001, an investigational candidate being evaluated for pain-related conditions.