Hemab Therapeutics (NASDAQ:COAG) Shares Up 5.5% - Here's What Happened

Key Points

• Hemab Therapeutics shares rose 5.5% on Friday, reaching $47.00 after trading well below its average daily volume.
• Several analysts turned more positive on the stock, including HC Wainwright raising its price target to $52 and Wedbush lifting its target to $55; the consensus rating is now Moderate Buy.
• Recent insider buying was notable, with Ra Capital Management purchasing 2.675 million shares worth about $48.15 million, boosting its ownership by 77%.

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG - Get Free Report)'s share price shot up 5.5% on Friday . The company traded as high as $47.00 and last traded at $47.00. Approximately 17,722 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 271,911 shares. The stock had previously closed at $44.53.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on COAG shares. HC Wainwright raised their price target on Hemab Therapeutics from $40.00 to $52.00 and gave the stock a "buy" rating in a report on Monday. Zacks Research upgraded Hemab Therapeutics to a "hold" rating in a research note on Wednesday, May 27th. Evercore began coverage on Hemab Therapeutics in a research report on Tuesday, May 26th. They set an "outperform" rating and a $50.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Hemab Therapeutics in a research report on Tuesday, May 26th. They issued a "buy" rating and a $36.00 price objective for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $55.00 target price (up from $42.00) on shares of Hemab Therapeutics in a report on Monday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.00.

Hemab Therapeutics Stock Performance

The firm has a market capitalization of $2.24 billion and a PE ratio of -2.00. The firm's fifty day moving average price is $29.73.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The company reported ($23.98) earnings per share for the quarter.

Insider Activity at Hemab Therapeutics

In related news, Director Ra Capital Management, L.P. purchased 2,675,000 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were purchased at an average price of $18.00 per share, with a total value of $48,150,000.00. Following the acquisition, the director directly owned 6,149,096 shares of the company's stock, valued at approximately $110,683,728. This represents a 77.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have acquired 2,970,541 shares of company stock valued at $55,459,603.

About Hemab Therapeutics

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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