Latigo Biotherapeutics (NASDAQ:LTGO) Trading Up 4.9% – Here’s Why

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) shot up 4.9% on Wednesday . The company traded as high as $23.75 and last traded at $23.68. Approximately 37,816 shares traded hands during trading, a decline of 83% from the average session volume of 223,493 shares. The stock had previously closed at $22.57.

Analyst Upgrades and Downgrades

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

Latigo Biotherapeutics Trading Up 6.7%

Insider Buying and Selling at Latigo Biotherapeutics

In other news, major shareholder Foresite Capital Management V, bought 140,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the purchase, the insider owned 2,008,024 shares in the company, valued at approximately $36,144,432. The trade was a 7.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James B. Tananbaum bought 140,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were purchased 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 directly owned 2,008,024 shares in the company, valued at $36,144,432. This trade represents 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 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.