Hemab Therapeutics (NASDAQ:COAG) Shares Up 6% – Here’s What Happened

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) was up 6% on Thursday. The company traded as high as $30.65 and last traded at $30.43. 238,850 shares traded hands during trading, a decline of 36% from the average daily volume of 376,088 shares. The stock had previously closed at $28.70.

Wall Street Analysts Forecast Growth

COAG has been the subject of several recent analyst reports. Wedbush increased their price objective on Hemab Therapeutics from $55.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. HC Wainwright lifted their target price on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings cut Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Finally, Jefferies Financial Group increased their target price on Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Five equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.40.

Hemab Therapeutics Trading Up 5.4%

The firm has a market capitalization of $1.41 billion and a P/E ratio of -1.22. The firm’s 50 day moving average price is $43.34.

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

Institutional Investors Weigh In On Hemab Therapeutics

A number of large investors have recently bought and sold shares of COAG. State Street Corp acquired a new position in Hemab Therapeutics during the second quarter worth about $2,825,000. Opaleye Management Inc. acquired a new stake in shares of Hemab Therapeutics in the second quarter valued at about $1,750,000. The Manufacturers Life Insurance Company bought a new position in shares of Hemab Therapeutics in the 2nd quarter worth about $688,000. Squarepoint Ops LLC acquired a new stake in Hemab Therapeutics in the second quarter worth $230,000. Finally, Citadel Advisors LLC acquired a new stake in Hemab Therapeutics in the second quarter valued at approximately $19,226,000.

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.