Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) Sees Significant Growth in Short Interest

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 134,468 shares, an increase of ∞ from the July 30th total of 0 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 473,636 shares, the short-interest ratio is presently 0.3 days.

Insider Transactions at Latigo Biotherapeutics

In related news, major shareholder Foresite Capital Management V, acquired 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were acquired 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 directly owned 2,008,024 shares in the company, valued at approximately $36,144,432. This trade represents a 7.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James B. Tananbaum purchased 140,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the completion of the purchase, the director directly owned 2,008,024 shares in the company, valued at $36,144,432. This represents a 7.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Latigo Biotherapeutics Stock Performance

Shares of LTGO stock traded down $0.77 during trading hours on Friday, reaching $24.23. The company had a trading volume of 217,741 shares, compared to its average volume of 437,250. Latigo Biotherapeutics has a 12-month low of $17.22 and a 12-month high of $25.93.

Analyst Ratings Changes

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

Latigo Biotherapeutics Company Profile

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.