Hemab Therapeutics (NASDAQ:COAG) Stock Falls 6.5% - Here's What Happened

Key Points

• Hemab Therapeutics fell 6.5% on Monday, closing at $45.84 after trading as low as $44.98; trading volume was 28% below its average.
• Analyst sentiment remained broadly positive: eight analysts rate the stock Buy, with a “Moderate Buy” consensus and an average price target of $56. Recent targets ranged from $56 to $70.
• The company reported a quarterly loss of $0.80 per share, missing analyst expectations of a $0.63 loss; analysts forecast a $3.10 loss per share for the current fiscal year.

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG - Get Free Report) dropped 6.5% during trading on Monday. The company traded as low as $44.98 and last traded at $45.84. Approximately 278,602 shares changed hands during trading, a decline of 28% from the average daily volume of 389,293 shares. The stock had previously closed at $49.02.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HC Wainwright boosted their target price on Hemab Therapeutics from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Rodman & Renshaw started coverage on Hemab Therapeutics in a report on Monday, October 12th. They set a "buy" rating and a $56.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Hemab Therapeutics in a research report on Thursday, October 15th. They issued an "overweight" rating and a $70.00 price target on the stock. Lifesci Capital assumed coverage on shares of Hemab Therapeutics in a research note on Monday. They issued an "outperform" rating and a $65.00 price objective for the company. Finally, Wedbush upped their price objective on shares of Hemab Therapeutics from $55.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $56.00.

Hemab Therapeutics Stock Performance

The company has a 50-day moving average price of $37.50. The firm has a market capitalization of $2.09 billion and a price-to-earnings ratio of -1.80.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last issued its quarterly 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). On average, research analysts forecast that Hemab Therapeutics Holdings, Inc. will post -3.10 EPS for the current fiscal year.

Hedge Funds Weigh In On Hemab Therapeutics

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

Hemab Therapeutics Company Profile

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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