Hemab Therapeutics (NASDAQ:COAG) Shares Gap Down Following Weak Earnings

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG)’s share price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $42.81, but opened at $40.09. Hemab Therapeutics shares last traded at $43.85, with a volume of 65,162 shares.

The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.07).

Analyst Ratings Changes

A number of research firms have issued reports on COAG. Lifesci Capital started coverage on Hemab Therapeutics in a research note on Monday. They issued an “outperform” rating and a $65.00 price objective on the stock. Wedbush increased their target price on Hemab Therapeutics from $55.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Rodman & Renshaw assumed coverage on shares of Hemab Therapeutics in a report on Monday, October 12th. They issued a “buy” rating and a $56.00 target price for the company. Jefferies Financial Group boosted their price target on shares of 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 downgraded shares of Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Institutional Investors Weigh In On Hemab Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp bought a new stake in shares of Hemab Therapeutics in the 2nd quarter valued at approximately $2,825,000. Citadel Advisors LLC bought a new position in shares of Hemab Therapeutics during the 2nd quarter valued at approximately $19,226,000. Opaleye Management Inc. bought a new position in shares of Hemab Therapeutics during the 2nd quarter valued at approximately $1,750,000. Braidwell LP purchased a new stake in Hemab Therapeutics during the 2nd quarter valued at $5,877,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Hemab Therapeutics during the 2nd quarter valued at $688,000.

Hemab Therapeutics Stock Performance

The company has a market cap of $1.99 billion and a P/E ratio of -1.72. The stock’s fifty day simple moving average is $37.46.

About Hemab Therapeutics

Hemab Therapeutics is a clinical-stage biotechnology company developing treatments for serious bleeding and thrombotic disorders, with a focus on conditions that have limited treatment options. Its research centers on therapies intended to help restore or regulate blood clotting.

The company’s lead candidate, HMB-001, is an investigational bispecific antibody being developed for Glanzmann thrombasthenia, a rare inherited bleeding disorder. Hemab is also advancing research into additional disorders affecting hemostasis, the process that helps the body control bleeding.

Hemab was founded in 2020 and operates in the United States and Denmark.