Hemab Therapeutics (NASDAQ:COAG) Shares Down 6.5% – Time to Sell?

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG)’s share price dropped 6.5% during trading on Monday. The company traded as low as $44.98 and last traded at $45.84. Approximately 278,602 shares traded hands during trading, a decline of 28% from the average session volume of 389,293 shares. The stock had previously closed at $49.02.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Rodman & Renshaw began coverage on shares of Hemab Therapeutics in a report on Monday, October 12th. They issued a “buy” rating and a $56.00 price target on the stock. Lifesci Capital initiated coverage on shares of Hemab Therapeutics in a research note on Monday. They set an “outperform” rating and a $65.00 price objective for the company. Weiss Ratings downgraded shares of Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. HC Wainwright upped their price objective on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Hemab Therapeutics in a research note on Thursday, October 15th. They issued an “overweight” rating and a $70.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Hemab Therapeutics Trading Up 0.3%

The company has a market capitalization of $1.82 billion and a price-to-earnings ratio of -1.57. The firm’s fifty day moving average price is $37.32.

Hemab Therapeutics (NASDAQ:COAG) last posted its earnings results on Tuesday, November 10th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.07). Research analysts predict that Hemab Therapeutics Holdings, Inc. will post -3.10 earnings per share for the current year.

Institutional Investors Weigh In On Hemab Therapeutics

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in shares of Hemab Therapeutics during the 3rd quarter worth approximately $46,000. Profund Advisors LLC acquired a new position in shares of Hemab Therapeutics in the 3rd quarter valued at $246,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Hemab Therapeutics by 77.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,400 shares of the company’s stock valued at $209,000 after purchasing an additional 2,800 shares during the period. State Street Corp purchased a new stake in Hemab Therapeutics during the second quarter worth $2,825,000. Finally, Opaleye Management Inc. purchased a new stake in Hemab Therapeutics during the second quarter worth $1,750,000.

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.