Latigo Biotherapeutics (NASDAQ:LTGO) Stock Price Up 5.1% – Here’s What Happened

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) shares rose 5.1% during mid-day trading on Thursday. The company traded as high as $17.55 and last traded at $17.55. Approximately 15,697 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 304,468 shares. The stock had previously closed at $16.70.

Analysts Set New Price Targets

LTGO has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price target on the stock. Leerink Partners started coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set an “outperform” rating and a $36.00 price objective for the company. The Goldman Sachs Group began coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $73.00 price objective for the company. Guggenheim started 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 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $52.25.

Latigo Biotherapeutics Stock Up 1.6%

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

Insiders Place Their Bets

In other Latigo Biotherapeutics news, major shareholder Foresite Capital Management V, bought 140,000 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the insider 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Tananbaum bought 140,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $2,520,000.00. Following 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. Additional details regarding this purchase are available in the official SEC disclosure.

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.