Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) Short Interest Up 129.5% in August

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 308,625 shares, a growth of 129.5% from the August 15th total of 134,468 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 179,042 shares, the days-to-cover ratio is presently 1.7 days.

Latigo Biotherapeutics Trading Up 1.6%

NASDAQ:LTGO traded up $0.36 on Tuesday, hitting $23.00. The stock had a trading volume of 118,531 shares, compared to its average volume of 218,140. Latigo Biotherapeutics has a 52 week low of $17.22 and a 52 week high of $25.93.

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

Insider Transactions at Latigo Biotherapeutics

In related news, major shareholder Foresite Capital Management V, acquired 140,000 shares of the business’s 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 completion of the purchase, the insider directly owned 2,008,024 shares in the company, valued at $36,144,432. The trade was a 7.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director James B. Tananbaum bought 140,000 shares of Latigo Biotherapeutics stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 2,008,024 shares of the company’s stock, valued at $36,144,432. The trade was a 7.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LTGO. 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 Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price target for the company. Guggenheim started coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 target price on the stock. The Goldman Sachs Group began coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $73.00 price target on the stock. Finally, Leerink Partners started coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set an “outperform” rating and a $36.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $52.25.

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.