Hemab Therapeutics (NASDAQ:COAG) Shares Gap Down Following Weak Earnings

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $42.81, but opened at $40.09. Hemab Therapeutics shares last traded at $43.85, with a volume of 65,162 shares trading hands.

The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.07).

Analysts Set New Price Targets

COAG has been the topic of several recent analyst reports. JPMorgan Chase & Co. began coverage on Hemab Therapeutics in a report on Thursday, October 15th. They issued an “overweight” rating and a $70.00 price target on the stock. HC Wainwright boosted their price objective on Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group upped their price objective on Hemab Therapeutics from $39.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Weiss Ratings lowered Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Finally, Lifesci Capital assumed coverage on Hemab Therapeutics in a research report on Monday. They set an “outperform” rating and a $65.00 target price for the company. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in COAG. Russell Investments Group Ltd. bought a new stake in shares of Hemab Therapeutics in the 3rd quarter valued at about $46,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Hemab Therapeutics by 77.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,400 shares of the company’s stock worth $209,000 after purchasing an additional 2,800 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Hemab Therapeutics in the 2nd quarter worth approximately $230,000. Profund Advisors LLC bought a new position in shares of Hemab Therapeutics during the third quarter valued at approximately $246,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Hemab Therapeutics during the second quarter valued at approximately $688,000.

Hemab Therapeutics Stock Down 0.7%

The firm has a market cap of $1.99 billion and a PE ratio of -1.72. The firm’s 50 day moving average is $37.46.

About Hemab Therapeutics

Hemab Therapeutics is a clinical-stage biotechnology company developing treatments for serious bleeding and thrombotic disorders, with a focus on conditions that have limited treatment options. Its research centers on therapies intended to help restore or regulate blood clotting.

The company’s lead candidate, HMB-001, is an investigational bispecific antibody being developed for Glanzmann thrombasthenia, a rare inherited bleeding disorder. Hemab is also advancing research into additional disorders affecting hemostasis, the process that helps the body control bleeding.

Hemab was founded in 2020 and operates in the United States and Denmark.