Hemab Therapeutics (NASDAQ:COAG) Trading Down 6.8% - What's Next?

Key Points

• Hemab Therapeutics shares fell 6.8% to about $41.48 during Thursday’s mid-day trading, with volume 54% below the stock’s average daily level.
• Analyst sentiment remains broadly positive: five analysts rate the stock a Buy, with an average rating of “Moderate Buy” and a consensus price target of $51.40; recent targets range as high as $64.
• The clinical-stage biotech reported a quarterly loss of $0.80 per share, missing estimates by $0.17, while major shareholder RA Capital purchased roughly $1.54 million of additional stock.

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG - Get Free Report) fell 6.8% during mid-day trading on Thursday . The company traded as low as $41.44 and last traded at $41.48. 147,147 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 321,339 shares. The stock had previously closed at $44.50.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COAG shares. Jefferies Financial Group increased their price objective on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the company a "buy" rating in a report on Monday, July 13th. HC Wainwright lifted 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. Wedbush boosted their target price on Hemab Therapeutics from $55.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. The Goldman Sachs Group assumed coverage on Hemab Therapeutics in a research note on Tuesday, May 26th. They set a "buy" rating and a $36.00 price target for the company. Finally, Weiss Ratings initiated coverage on Hemab Therapeutics in a report on Thursday, August 13th. They set a "sell (d+)" rating for the company. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.40.

Hemab Therapeutics Stock Performance

The stock's 50-day simple moving average is $45.78. The firm has a market cap of $1.93 billion and a price-to-earnings ratio of -1.67.

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

Insider Buying and Selling

In related news, major shareholder Ra Capital Management, L.P. purchased 61,523 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was bought at an average price of $24.98 per share, for a total transaction of $1,536,844.54. Following the completion of the transaction, the insider owned 6,444,637 shares in the company, valued at approximately $160,987,032.26. The trade was a 0.96% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Hemab Therapeutics

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

About Hemab Therapeutics

Hemab Therapeutics is a clinical-stage biotechnology company focused on developing novel therapies for people with serious bleeding and thrombotic disorders. The company's research is centered on treatments designed to address diseases of the blood and coagulation system, with the goal of improving outcomes for patients who may not be adequately served by existing options.

Hemab's pipeline includes drug candidates aimed at rare hematologic conditions, including factor XI-related approaches and other programs in inherited bleeding disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.