Latigo Biotherapeutics (NASDAQ:LTGO) Sees Unusually-High Trading Volume – Here’s What Happened

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) shares saw unusually-high trading volume on Tuesday. 535,285 shares changed hands during mid-day trading, an increase of 86% from the average daily volume of 288,307 shares. The stock last traded at $13.60 and had previously closed at $13.35.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LTGO shares. Wall Street Zen upgraded Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group started coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $73.00 price objective on the stock. Weiss Ratings initiated coverage on Latigo Biotherapeutics in a report on Tuesday, November 3rd. They issued a “sell (e-)” rating for the company. Jefferies Financial Group started coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price target on the stock. Finally, Guggenheim assumed coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.25.

Latigo Biotherapeutics Trading Down 1.3%

The business’s 50-day simple moving average is $17.73. The firm has a market cap of $873.83 million and a P/E ratio of -0.25.

Latigo Biotherapeutics (NASDAQ:LTGO) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.55) earnings per share (EPS) for the quarter.

Latigo Biotherapeutics Company Profile

Latigo Biotherapeutics is a clinical-stage biopharmaceutical company developing non-opioid medicines for pain. Its research focuses on voltage-gated sodium channels, which play a role in transmitting pain signals. The company’s pipeline includes LTG-001, an oral, selective Nav1.8 inhibitor being developed for acute pain, along with additional investigational programs targeting pain conditions. Latigo’s work is aimed at providing alternatives to opioid-based pain treatment. Its product candidates are investigational and have not been established as safe or effective for any use.