Hemab Therapeutics (NASDAQ:COAG) Trading Up 8.4% on Insider Buying Activity

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG)’s share price rose 8.4% during mid-day trading on Thursday following insider buying activity. The stock traded as high as $28.68 and last traded at $28.67. Approximately 40,831 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 215,140 shares. The stock had previously closed at $26.45.

Specifically, major shareholder Ra Capital Management, L.P. bought 61,523 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average price of $24.98 per share, with a total value of $1,536,844.54. Following the purchase, the insider owned 6,444,637 shares of the company’s stock, valued at $160,987,032.26. This trade represents a 0.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ra Capital Management, L.P. acquired 6,146 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $24.89 per share, with a total value of $152,973.94. Following the purchase, the insider owned 6,383,114 shares in the company, valued at approximately $158,875,707.46. The trade was a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COAG. Jefferies Financial Group began coverage on shares of Hemab Therapeutics in a research note on Tuesday, May 26th. They set a “buy” rating and a $39.00 price objective for the company. Evercore began coverage on shares of Hemab Therapeutics in a research note on Tuesday, May 26th. They set an “outperform” rating and a $50.00 price objective for the company. Wedbush began coverage on shares of Hemab Therapeutics in a research note on Tuesday, May 26th. They set an “outperform” rating and a $42.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Hemab Therapeutics in a research note on Tuesday, May 26th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Wall Street Zen raised shares of Hemab Therapeutics to a “hold” rating in a research note on Saturday, May 9th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Hemab Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $41.40.

Hemab Therapeutics Stock Performance

Hemab Therapeutics (NASDAQ:COAG) last released its quarterly earnings results on Thursday, May 21st. The company reported ($23.98) earnings per share for the quarter.

Hemab Therapeutics Company Profile

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.