Latigo Biotherapeutics (NASDAQ:LTGO) Sets New 52-Week Low – Should You Sell?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO)’s stock price reached a new 52-week low during trading on Friday. The stock traded as low as $17.05 and last traded at $17.31, with a volume of 132657 shares traded. The stock had previously closed at $17.76.

Analyst Upgrades and Downgrades

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

Latigo Biotherapeutics Price Performance

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

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.