Hemab Therapeutics (NASDAQ:COAG) Trading Down 8.4% – Here’s What Happened

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

Analysts Set New Price Targets

COAG has been the subject of a number of recent analyst reports. HC Wainwright lifted their price target on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group assumed coverage on shares of Hemab Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $36.00 price objective on the stock. Weiss Ratings started coverage on shares of Hemab Therapeutics in a report on Thursday, August 13th. They issued a “sell (d+)” rating for the company. Wall Street Zen raised Hemab Therapeutics to a “hold” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group upped their price target on Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Hemab Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Hemab Therapeutics Price Performance

The firm has a market cap of $2.22 billion and a P/E ratio of -1.92. The stock has a 50 day moving average price of $40.76.

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). Analysts anticipate that Hemab Therapeutics Holdings, Inc. will post -3.09 EPS for the current year.

Insider Activity at Hemab Therapeutics

In related news, major shareholder Ra Capital Management, L.P. acquired 61,523 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average price of $24.98 per share, with a total value of $1,536,844.54. Following the completion of the transaction, the insider owned 6,444,637 shares of the company’s stock, valued at $160,987,032.26. The trade was a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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.