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

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

Latigo Biotherapeutics Price Performance

Shares of NASDAQ LTGO opened at $22.15 on Monday. Latigo Biotherapeutics has a twelve month low of $17.22 and a twelve month high of $25.93.

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

Insider Buying and Selling at Latigo Biotherapeutics

In other news, major shareholder Foresite Capital Management V, purchased 140,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were purchased 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 owned 2,008,024 shares of the company’s stock, valued at $36,144,432. This trade represents a 7.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Tananbaum acquired 140,000 shares of Latigo Biotherapeutics stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the purchase, the director 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 issued reports on LTGO. Guggenheim initiated coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $50.00 price target for the company. Jefferies Financial Group assumed 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 report on Tuesday, September 1st. They set a “buy” rating and a $73.00 price target for the company. Leerink Partners assumed coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Wall Street Zen cut Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $52.25.

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.