Hemab Therapeutics (NASDAQ:COAG) Stock Price Up 8.4% – Here’s What Happened

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG)’s stock price traded up 8.4% during trading on Thursday. The company traded as high as $32.55 and last traded at $32.46. Approximately 136,454 shares changed hands during trading, a decline of 64% from the average daily volume of 378,583 shares. The stock had previously closed at $29.94.

Wall Street Analysts Forecast Growth

COAG has been the subject of a number of research analyst reports. Wedbush boosted their price target on Hemab Therapeutics from $55.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. HC Wainwright upped their price target on Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. initiated coverage on Hemab Therapeutics in a research note on Thursday. They set an “overweight” rating and a $70.00 price objective on the stock. Jefferies Financial Group lifted their price objective 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. Finally, Rodman & Renshaw began coverage on shares of Hemab Therapeutics in a report on Monday. They issued a “buy” rating and a $56.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Hemab Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.71.

Hemab Therapeutics Trading Up 8.2%

The firm has a market cap of $1.51 billion and a PE ratio of -1.31. The stock has a 50 day moving average price of $41.66.

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

Hedge Funds Weigh In On Hemab Therapeutics

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

Hemab Therapeutics Company Profile

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.