Opaleye Management Inc. Makes New Investment in Hemab Therapeutics Holdings, Inc. $COAG

Key Points

• Opaleye Management acquired 47,652 Hemab Therapeutics shares worth approximately $1.75 million, while several other hedge funds also initiated positions during the second quarter.
• Analyst sentiment is broadly positive: five analysts rate COAG a Buy, with an average price target of $51.40 versus its reported $39.88 opening price.
• Shares have fallen 10.4%, and Hemab reported a quarterly loss of $0.80 per share, missing the $0.63 consensus estimate; analysts expect a full-year loss of $3.09 per share.

Opaleye Management Inc. purchased a new stake in shares of Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 47,652 shares of the company's stock, valued at approximately $1,750,000. Opaleye Management Inc. owned about 0.10% of Hemab Therapeutics as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC purchased a new position in shares of Hemab Therapeutics in the 2nd quarter worth $230,000. The Manufacturers Life Insurance Company purchased a new stake in Hemab Therapeutics during the second quarter valued at $688,000. Braidwell LP purchased a new stake in Hemab Therapeutics during the second quarter valued at $5,877,000. Finally, Citadel Advisors LLC bought a new position in Hemab Therapeutics in the second quarter valued at about $19,226,000.

Insider Buying and Selling

In other news, major shareholder Ra Capital Management, L.P. acquired 61,523 shares of Hemab Therapeutics stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average cost 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 $160,987,032.26. This trade represents a 0.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COAG. The Goldman Sachs Group began coverage on Hemab Therapeutics in a research note on Tuesday, May 26th. They set a "buy" rating and a $36.00 price target for the company. Wedbush increased their price objective on shares of Hemab Therapeutics from $55.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Jefferies Financial Group boosted their price target on Hemab Therapeutics from $39.00 to $47.00 and gave the company a "buy" rating in a report on Monday, July 13th. HC Wainwright increased their price objective on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Hemab Therapeutics to a "hold" rating in a research report on Wednesday, May 27th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hemab Therapeutics has an average rating of "Moderate Buy" and an average target price of $51.40.

Hemab Therapeutics Trading Down 10.4%

NASDAQ:COAG opened at $39.88 on Friday. Hemab Therapeutics Holdings, Inc. has a 1 year low of $23.00 and a 1 year high of $55.42. The business has a 50 day moving average price of $45.96. The company has a market cap of $1.86 billion and a P/E ratio of -1.61.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.17). On average, equities research analysts expect that Hemab Therapeutics Holdings, Inc. will post -3.09 EPS for the current fiscal year.

Hemab Therapeutics 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.

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