Hemab Therapeutics (NASDAQ:COAG) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Hemab Therapeutics saw elevated trading activity, with about 332,235 shares changing hands, while the stock traded near $32.82—well below its 50-day moving average of $45.42.
• Analyst sentiment remains broadly positive: five analysts rate COAG a Buy, one a Hold and one a Sell, producing a “Moderate Buy” consensus and a $51.40 average price target.
• The company missed quarterly earnings expectations, reporting an EPS loss of $0.80 versus the $0.63 consensus estimate. Several institutional investors, including Citadel Advisors, nonetheless established new positions during the second quarter.

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG - Get Free Report) saw unusually-high trading volume on Wednesday. Approximately 332,235 shares traded hands during mid-day trading, a decline of 11% from the previous session's volume of 372,680 shares. The stock last traded at $32.82 and had previously closed at $32.60.

Analysts Set New Price Targets

Several research analysts have recently commented on COAG shares. Weiss Ratings lowered Hemab Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday. Jefferies Financial Group boosted their price objective 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 target price on Hemab Therapeutics from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Wedbush boosted their price target 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. Five equities 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.40.

Hemab Therapeutics Price Performance

The company has a market cap of $1.52 billion and a price-to-earnings ratio of -1.31. The firm's 50 day simple moving average is $45.42.

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

Hedge Funds Weigh In On Hemab Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in COAG. Citadel Advisors LLC acquired a new stake in Hemab Therapeutics in the second quarter valued at approximately $19,226,000. Braidwell LP acquired a new position in Hemab Therapeutics during the 2nd quarter worth approximately $5,877,000. State Street Corp purchased a new stake in shares of Hemab Therapeutics in the 2nd quarter valued at approximately $2,825,000. Opaleye Management Inc. purchased a new stake in shares of Hemab Therapeutics in the 2nd quarter valued at approximately $1,750,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Hemab Therapeutics in the 2nd quarter valued at $688,000.

About Hemab Therapeutics

Hemab Therapeutics is a clinical-stage biotechnology company focused on developing treatments for serious and underserved bleeding disorders. The company aims to create therapies that address limitations of existing approaches, including the need for frequent administration and the challenges associated with complex blood-product-based treatments.

Its lead investigational program, HMB-001, is being developed for Glanzmann thrombasthenia, a rare inherited disorder in which platelets do not function properly and can cause severe bleeding.

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