Hemab Therapeutics (NASDAQ:COAG) Shares Down 5.7% – Here’s Why

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) dropped 5.7% on Monday . The stock traded as low as $38.84 and last traded at $38.85. 144,442 shares changed hands during trading, a decline of 61% from the average daily volume of 367,478 shares. The stock had previously closed at $41.19.

Wall Street Analyst Weigh In

A number of analysts have recently commented on COAG shares. Weiss Ratings initiated coverage on shares of Hemab Therapeutics in a report on Thursday, August 13th. They set a “sell (d+)” rating on the stock. HC Wainwright increased their price target on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Wedbush lifted their price target on shares of Hemab Therapeutics from $55.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Zacks Research raised shares of Hemab Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. Finally, Evercore assumed coverage on shares of Hemab Therapeutics in a report on Tuesday, May 26th. They issued an “outperform” rating and a $50.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hemab Therapeutics has an average rating of “Moderate Buy” and an average target price of $51.40.

Hemab Therapeutics Stock Performance

The stock has a market capitalization of $1.81 billion and a P/E ratio of -1.57. The company’s 50-day moving average is $46.79.

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

Hedge Funds Weigh In On Hemab Therapeutics

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

About Hemab Therapeutics

Hemab Therapeutics is a clinical-stage biotechnology company focused on developing treatments for serious and underserved bleeding disorders. The company aims to create therapies that address limitations of existing approaches, including the need for frequent administration and the challenges associated with complex blood-product-based treatments.

Its lead investigational program, HMB-001, is being developed for Glanzmann thrombasthenia, a rare inherited disorder in which platelets do not function properly and can cause severe bleeding.