Hemab Therapeutics (NASDAQ:COAG) Trading 7.6% Higher – Here’s What Happened

Shares of Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) shot up 7.6% during mid-day trading on Wednesday . The stock traded as high as $43.23 and last traded at $43.15. Approximately 139,826 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 323,800 shares. The stock had previously closed at $40.11.

Wall Street Analysts Forecast Growth

Several analysts recently commented on COAG shares. Weiss Ratings started coverage on Hemab Therapeutics in a research report on Thursday, August 13th. They set a “sell (d+)” rating for the company. Evercore assumed coverage on shares of Hemab Therapeutics in a research report on Tuesday, May 26th. They issued an “outperform” rating and a $50.00 target price for the company. Jefferies Financial Group boosted their price target on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. The Goldman Sachs Group began coverage on shares of Hemab Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, HC Wainwright raised their target price 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. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Hemab Therapeutics Trading Up 7.6%

The firm has a market cap of $2.02 billion and a P/E ratio of -1.74. The business’s 50-day simple moving average is $46.51.

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

Institutional Investors Weigh In On Hemab Therapeutics

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