Hemab Therapeutics (NASDAQ:COAG) Shares Gap Down - Here's What Happened

Key Points

• Hemab Therapeutics shares fell sharply: COAG opened at $30.82 versus a prior close of $32.60 and last traded near $30.64, well below its 50-day moving average of $45.06.
• Analyst sentiment remains broadly positive: Five analysts rate the stock Buy, one rates it Hold, and one rates it Sell, resulting in a Moderate Buy consensus and an average price target of $51.40.
• Recent results missed expectations: Hemab reported a quarterly loss of $0.80 per share versus the $0.63 consensus estimate, while several institutional investors—including Citadel Advisors—established new positions during the second quarter.

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG - Get Free Report)'s share price gapped down before the market opened on Thursday. The stock had previously closed at $32.60, but opened at $30.82. Hemab Therapeutics shares last traded at $30.64, with a volume of 16,097 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on COAG shares. Jefferies Financial Group raised their target price on 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 lifted their price objective on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Hemab Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 25th. Finally, Wedbush increased their target price 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. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.40.

Hemab Therapeutics Stock Performance

The company has a 50 day simple moving average of $45.06. The stock has a market cap of $1.44 billion and a P/E ratio of -1.25.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last released 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). As a group, sell-side analysts forecast that Hemab Therapeutics Holdings, Inc. will post -3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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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