Latigo Biotherapeutics (NASDAQ:LTGO) Reaches New 12-Month Low – Time to Sell?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as $14.52 and last traded at $14.55, with a volume of 63,844 shares changing hands. The stock had previously closed at $15.71.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LTGO shares. Wall Street Zen raised shares of Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. 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 on the stock. The Goldman Sachs Group initiated coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $73.00 price objective for the company. Guggenheim began 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 for the company. Finally, Jefferies Financial Group began 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 for the company. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $52.25.

Latigo Biotherapeutics Stock Down 8.3%

The company’s 50 day simple moving average is $20.18. The firm has a market cap of $955.38 million and a P/E ratio of -0.27.

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

Insider Activity

In related news, Director James B. Tananbaum bought 140,000 shares of Latigo Biotherapeutics stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the completion of the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Foresite Capital Management V, purchased 140,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost 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 $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.

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.