Latigo Biotherapeutics (NASDAQ:LTGO) Shares Down 4.9% – Should You Sell?

Shares of Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) dropped 4.9% on Monday . The stock traded as low as $21.30 and last traded at $21.44. Approximately 96,653 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 274,418 shares. The stock had previously closed at $22.55.

Wall Street Analyst Weigh In

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

Latigo Biotherapeutics Stock Down 4.5%

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

Insider Buying and Selling

In other news, Director James Tananbaum bought 140,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the transaction, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Foresite Capital Management V, bought 140,000 shares of the 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 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 SEC filing for this purchase provides additional information.

Latigo Biotherapeutics Company Profile

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.