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

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

Analyst Upgrades and Downgrades

Several analysts recently commented on COAG shares. Rodman & Renshaw started coverage on shares of Hemab Therapeutics in a research 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 Hemab Therapeutics in a research report on Thursday. They issued an “overweight” rating and a $70.00 price objective for the company. Wedbush boosted their price objective 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 upped 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. Finally, Weiss Ratings downgraded shares of Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Seven 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 stock. According to MarketBeat.com, Hemab Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $54.71.

Hemab Therapeutics Stock Down 7.5%

The stock has a market capitalization of $1.40 billion and a PE ratio of -1.21. The company has a 50 day moving average of $40.88.

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). On average, equities analysts anticipate that Hemab Therapeutics Holdings, Inc. will post -3.09 earnings per share for the current year.

Institutional Investors Weigh In On Hemab Therapeutics

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