Latigo Biotherapeutics, Inc.’s Quiet Period To End on September 16th (NASDAQ:LTGO)

Latigo Biotherapeutics’ (NASDAQ:LTGO) quiet period is set to expire on Wednesday, September 16th. Latigo Biotherapeutics had issued 19,200,000 shares in its initial public offering on August 7th. The total size of the offering was $345,600,000 based on an initial share price of $18.00. During Latigo Biotherapeutics’ quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

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

Latigo Biotherapeutics Stock Down 5.5%

NASDAQ:LTGO opened at $21.54 on Friday. Latigo Biotherapeutics has a 12-month low of $17.22 and a 12-month high of $25.93.

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

Insiders Place Their Bets

In other news, major shareholder Foresite Capital Management V, acquired 140,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was bought at an average price of $18.00 per share, for a total transaction of $2,520,000.00. Following the transaction, the insider owned 2,008,024 shares in the company, valued at $36,144,432. This represents a 7.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Tananbaum bought 140,000 shares of Latigo Biotherapeutics stock in a transaction dated 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 purchase, the director 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 disclosure for this purchase is available in the SEC filing.

About Latigo Biotherapeutics

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.