Hemab Therapeutics (NASDAQ:COAG) Stock Price Down 7.5% - What's Next?

Key Points

• Hemab Therapeutics shares fell 7.5% to $28.31 in Tuesday trading, with volume down 68% from the average session level. The stock is also well below its 50-day moving average of $44.04.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $51.40; Wedbush, HC Wainwright, and Jefferies recently raised their targets.
• The company reported a quarterly EPS loss of $0.80, missing expectations by $0.17, while institutional investors including Citadel Advisors and Braidwell initiated sizable positions during the second quarter.

Shares of Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG - Get Free Report) dropped 7.5% during trading on Tuesday. The stock traded as low as $28.12 and last traded at $28.31. 119,924 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 375,300 shares. The stock had previously closed at $30.59.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COAG. 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. Wedbush upped their price target on Hemab Therapeutics from $55.00 to $64.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. HC Wainwright boosted their target price on Hemab Therapeutics from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group increased their price target on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.40.

Hemab Therapeutics Trading Down 5.7%

The business's fifty day simple moving average is $44.04. The company has a market cap of $1.35 billion and a price-to-earnings ratio of -1.16.

Hemab Therapeutics (NASDAQ:COAG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.17). Equities analysts predict that Hemab Therapeutics Holdings, Inc. will post -3.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hemab Therapeutics

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

About Hemab Therapeutics

Hemab Therapeutics NASDAQ: COAG is a clinical-stage biopharmaceutical company developing treatments for serious and potentially life-threatening bleeding disorders. The company focuses on rare conditions for which existing therapies may be limited, inconvenient, or ineffective for some patients.

Hemab's lead investigational program, HMB-001, is an engineered bispecific antibody designed to improve blood clotting by enhancing thrombin generation through inhibition of tissue factor pathway inhibitor.

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