Hemab Therapeutics (NASDAQ:COAG) Shares Down 8.4% – Here’s Why

Shares of Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) dropped 8.4% during trading on Thursday . The stock traded as low as $46.57 and last traded at $47.30. Approximately 166,261 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 312,116 shares. The stock had previously closed at $51.66.

Analyst Upgrades and Downgrades

COAG has been the subject of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of Hemab Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $36.00 price objective for the company. Evercore assumed coverage on Hemab Therapeutics in a research report on Tuesday, May 26th. They issued an “outperform” rating and a $50.00 target price on the stock. HC Wainwright upped their price target on Hemab Therapeutics from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Jefferies Financial Group raised their price target on Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings began coverage on Hemab Therapeutics in a research note on Thursday, August 13th. They issued a “sell (d+)” rating for the company. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Hemab Therapeutics Trading Up 2.0%

The firm has a market capitalization of $2.30 billion and a price-to-earnings ratio of -1.98. The company has a 50-day moving average price of $41.67.

Hemab Therapeutics (NASDAQ:COAG) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.17). On average, research analysts forecast that Hemab Therapeutics Holdings, Inc. will post -3.09 EPS for the current year.

Insider Buying and Selling

In other Hemab Therapeutics news, major shareholder Ra Capital Management, L.P. purchased 61,523 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was bought at an average price of $24.98 per share, with a total value of $1,536,844.54. Following the transaction, the insider directly owned 6,444,637 shares of the company’s stock, valued at approximately $160,987,032.26. This represents a 0.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Hemab Therapeutics

A hedge fund recently bought a new stake in Hemab Therapeutics stock. Braidwell LP acquired a new stake in Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 160,000 shares of the company’s stock, valued at approximately $5,877,000. Braidwell LP owned approximately 0.34% of Hemab Therapeutics at the end of the most recent quarter.

Hemab Therapeutics Company Profile

Hemab Therapeutics is a clinical-stage biotechnology company focused on developing novel therapies for people with serious bleeding and thrombotic disorders. The company’s research is centered on treatments designed to address diseases of the blood and coagulation system, with the goal of improving outcomes for patients who may not be adequately served by existing options.

Hemab’s pipeline includes drug candidates aimed at rare hematologic conditions, including factor XI-related approaches and other programs in inherited bleeding disorders.