Hemab Therapeutics (NASDAQ:COAG) Shares Down 6.8% – Should You Sell?

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

Wall Street Analyst Weigh In

A number of research firms recently commented on COAG. Wedbush lifted their price target on shares of Hemab Therapeutics from $55.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group assumed coverage on shares of Hemab Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $36.00 price objective on the stock. Weiss Ratings initiated coverage on shares of Hemab Therapeutics in a research note on Thursday, August 13th. They issued a “sell (d+)” rating for the company. Evercore initiated coverage on Hemab Therapeutics in a research report on Tuesday, May 26th. They set an “outperform” rating and a $50.00 target price for the company. Finally, HC Wainwright upped their target price on Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Five 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.40.

Hemab Therapeutics Stock Down 7.3%

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

Hemab Therapeutics (NASDAQ:COAG) last posted its quarterly 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). Research analysts expect that Hemab Therapeutics Holdings, Inc. will post -3.09 EPS for the current year.

Insider Transactions at Hemab Therapeutics

In related news, major shareholder Ra Capital Management, L.P. acquired 61,523 shares of the stock in a transaction on Tuesday, June 16th. The stock was bought at an average cost of $24.98 per share, with a total value of $1,536,844.54. Following the transaction, the insider directly owned 6,444,637 shares in the company, valued at approximately $160,987,032.26. This represents a 0.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Hedge Funds Weigh In On Hemab Therapeutics

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

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.