Latigo Biotherapeutics, Inc.’s (NASDAQ:LTGO) Quiet Period Set To End on September 16th

Latigo Biotherapeutics’ (NASDAQ:LTGO) quiet period will end on Wednesday, September 16th. Latigo Biotherapeutics had issued 19,200,000 shares in its initial public offering on August 7th. The total size of the offering was $345,600,000 based on an initial share price of $18.00. During Latigo Biotherapeutics’ quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LTGO shares. Guggenheim began coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 target price on the stock. Leerink Partners started coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price target for the company. Wall Street Zen cut Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Jefferies Financial Group assumed coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $73.00 price target on the stock. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $52.25.

Latigo Biotherapeutics Stock Up 2.8%

LTGO stock opened at $22.15 on Friday. Latigo Biotherapeutics has a 52 week low of $17.22 and a 52 week high of $25.93.

Latigo Biotherapeutics (NASDAQ:LTGO) last released 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 B. Tananbaum acquired 140,000 shares of Latigo Biotherapeutics stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the purchase, the director 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foresite Capital Management V, acquired 140,000 shares of the firm’s stock in a transaction dated 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 acquisition, the insider 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 disclosure for this purchase is available in the SEC filing.

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.