Hemab Therapeutics (NASDAQ:COAG) Stock Price Up 7.6% – Time to Buy?

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on COAG shares. Evercore started coverage on shares of Hemab Therapeutics in a research note on Tuesday, May 26th. They set an “outperform” rating and a $50.00 price objective on the stock. HC Wainwright boosted their price objective 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 upped their target price on Hemab Therapeutics from $55.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Zacks Research upgraded Hemab Therapeutics to a “hold” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group boosted their price target on Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.40.

Hemab Therapeutics Stock Up 0.6%

The firm has a market cap of $1.93 billion and a P/E ratio of -1.66. The business’s 50 day moving average price is $46.73.

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

Institutional Inflows and Outflows

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