Latigo Biotherapeutics (NASDAQ:LTGO) Sets New 12-Month Low – Should You Sell?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) hit a new 52-week low on Monday. The company traded as low as $13.26 and last traded at $13.51, with a volume of 289,064 shares traded. The stock had previously closed at $13.95.

Analyst Ratings Changes

Several research firms have issued reports on LTGO. Wall Street Zen lowered Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. The Goldman Sachs Group began coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $73.00 target price for the company. Jefferies Financial Group assumed coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $50.00 target price for the company. Leerink Partners began coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Guggenheim 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. Four investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $52.25.

Latigo Biotherapeutics Stock Performance

The company has a market cap of $895.71 million and a price-to-earnings ratio of -0.26. The stock’s 50 day moving average price is $18.92.

Latigo Biotherapeutics (NASDAQ:LTGO) last issued its quarterly earnings data on Thursday, September 3rd. The company reported ($27.59) earnings per share (EPS) for the quarter.

Insider Activity at Latigo Biotherapeutics

In other news, Director James Tananbaum bought 140,000 shares of the 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 purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Foresite Capital Management V, purchased 140,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the acquisition, the insider owned 2,008,024 shares in the company, valued at $36,144,432. The trade was a 7.49% increase in their position. The SEC filing for this purchase provides additional information.

About Latigo Biotherapeutics

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.