Hemab Therapeutics (NASDAQ:COAG) Shares Down 5.7% - What's Next?

Key Points

• Hemab Therapeutics shares fell 5.7% to $38.85, with trading volume down 61% from its average. The stock remains below its 50-day moving average of $46.79.
• Analyst sentiment is broadly positive, with five Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $51.40.
• The company missed quarterly earnings expectations, reporting an EPS loss of $0.80 versus the $0.63 consensus estimate. Hemab is a clinical-stage biotechnology company developing treatments for rare bleeding disorders, including its lead program HMB-001.

Shares of Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG - Get Free Report) dropped 5.7% during trading on Monday . The stock traded as low as $38.84 and last traded at $38.85. Approximately 144,442 shares changed hands during trading, a decline of 61% from the average daily volume of 367,478 shares. The stock had previously closed at $41.19.

Analyst Upgrades and Downgrades

COAG has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Evercore began coverage on shares of Hemab Therapeutics in a research report on Tuesday, May 26th. They issued an "outperform" rating and a $50.00 target price on the stock. Zacks Research raised shares of Hemab Therapeutics to a "hold" rating in a research note on Wednesday, May 27th. Wedbush upped their price target on shares of Hemab Therapeutics from $55.00 to $64.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings started coverage on shares of Hemab Therapeutics in a research report on Thursday, August 13th. They set a "sell (d+)" rating for the company. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $51.40.

Hemab Therapeutics Stock Performance

The company has a fifty day moving average of $46.79. The stock has a market cap of $1.81 billion and a PE ratio of -1.57.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new position in shares of Hemab Therapeutics during the second quarter valued at about $19,226,000. Braidwell LP purchased a new stake in Hemab Therapeutics in the second quarter worth about $5,877,000. Opaleye Management Inc. purchased a new stake in Hemab Therapeutics in the second quarter worth about $1,750,000. The Manufacturers Life Insurance Company bought a new stake in Hemab Therapeutics during the 2nd quarter valued at approximately $688,000. Finally, Squarepoint Ops LLC bought a new stake in Hemab Therapeutics during the 2nd quarter valued at approximately $230,000.

Hemab Therapeutics Company Profile

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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