Hemab Therapeutics (NASDAQ:COAG) Shares Down 7.5% – Should You Sell?

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) shares dropped 7.5% during trading on Tuesday. The stock traded as low as $28.12 and last traded at $28.31. 119,924 shares were traded during trading, a decline of 68% from the average daily volume of 375,300 shares. The stock had previously closed at $30.59.

Wall Street Analyst Weigh In

Several research firms have issued reports on COAG. Jefferies Financial Group lifted their target price on Hemab Therapeutics from $39.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings downgraded Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. HC Wainwright upped their price target on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Wedbush lifted their target price on shares of Hemab Therapeutics from $55.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Hemab Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Hemab Therapeutics Trading Down 5.7%

The business’s fifty day moving average is $44.04. The company has a market cap of $1.35 billion and a PE ratio of -1.16.

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

Institutional Trading of Hemab Therapeutics

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