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

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) was down 6.8% on Thursday . The stock traded as low as $41.44 and last traded at $41.48. 147,147 shares changed hands 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.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COAG shares. The Goldman Sachs Group started coverage on Hemab Therapeutics in a report on Tuesday, May 26th. They set a “buy” rating and a $36.00 target price for the company. 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 target on the stock. Zacks Research raised shares of Hemab Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. Jefferies Financial Group boosted their price objective on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings assumed coverage on shares of Hemab Therapeutics in a research note on Thursday, August 13th. They issued a “sell (d+)” rating 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.40.

Hemab Therapeutics Trading Down 1.2%

The firm has a 50 day moving average price of $46.13. The company has a market cap of $1.84 billion and a P/E ratio of -1.59.

Hemab Therapeutics (NASDAQ:COAG) last posted 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). On average, research analysts anticipate that Hemab Therapeutics Holdings, Inc. will post -3.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 price of $24.98 per share, with a total value of $1,536,844.54. Following the completion of the transaction, the insider directly owned 6,444,637 shares of the company’s stock, valued at $160,987,032.26. The trade was a 0.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

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

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.