Hemab Therapeutics Holdings, Inc.'s (NASDAQ:COAG) Lock-Up Period Will Expire on October 28th

Key Points

• Hemab Therapeutics’ lock-up period expires October 28, allowing insiders and major shareholders to sell shares. The company issued 16.75 million IPO shares at $18 each, raising $301.5 million.
• Analyst sentiment is broadly positive, with seven Buy ratings and an average price target of $54.71; recent targets range from $47 to $70.
• Shares recently opened at $34.17, while the company reported a quarterly loss of $0.80 per share, missing the $0.63 consensus estimate. Several institutional investors, including Citadel Advisors, recently established positions.

Hemab Therapeutics' (NASDAQ:COAG - Get Free Report) lock-up period is set to expire on Wednesday, October 28th. Hemab Therapeutics had issued 16,750,000 shares in its initial public offering on May 1st. The total size of the offering was $301,500,000 based on an initial share price of $18.00. After the expiration of Hemab Therapeutics' lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

COAG has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the company a "buy" rating in a research report on Monday, July 13th. HC Wainwright upped their price target on Hemab Therapeutics from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. started coverage on Hemab Therapeutics in a research note on Thursday, October 15th. They issued an "overweight" rating and a $70.00 price objective for the company. Wedbush lifted their price objective on Hemab Therapeutics from $55.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Finally, Rodman & Renshaw began coverage on Hemab Therapeutics in a report on Monday, October 12th. They set a "buy" rating and a $56.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.71.

Hemab Therapeutics Stock Up 6.5%

Hemab Therapeutics stock opened at $34.17 on Wednesday. Hemab Therapeutics has a 52 week low of $23.00 and a 52 week high of $55.42. The stock has a 50-day simple moving average of $40.17. The stock has a market cap of $1.60 billion and a price-to-earnings ratio of -1.38.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.17). As a group, research analysts forecast that Hemab Therapeutics will post -3.10 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. State Street Corp purchased a new stake in Hemab Therapeutics in the 2nd quarter valued at approximately $2,825,000. Opaleye Management Inc. acquired a new stake in Hemab Therapeutics during the 2nd quarter valued at $1,750,000. The Manufacturers Life Insurance Company acquired a new stake in Hemab Therapeutics during the 2nd quarter valued at $688,000. Squarepoint Ops LLC purchased a new position in Hemab Therapeutics during the second quarter worth $230,000. Finally, Citadel Advisors LLC purchased a new position in Hemab Therapeutics during the second quarter worth $19,226,000.

About Hemab Therapeutics

Hemab Therapeutics is a clinical-stage biotechnology company focused on developing treatments for serious bleeding disorders. The company's research is aimed at addressing conditions in which patients experience inadequate clot formation or difficulty controlling bleeding, including rare inherited and acquired disorders.

Hemab's lead investigational program, HMB-001, is being developed as a potential treatment for Glanzmann thrombasthenia, a rare inherited platelet disorder that can cause severe and recurring bleeding.

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