Hemab Therapeutics (NASDAQ:COAG) Stock Price Up 8.4% – Here’s What Happened

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG)’s stock price shot up 8.4% during trading on Thursday. The stock traded as high as $32.55 and last traded at $32.46. Approximately 136,454 shares changed hands during trading, a decline of 64% from the average daily volume of 378,583 shares. The stock had previously closed at $29.94.

Wall Street Analysts Forecast Growth

COAG has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Weiss Ratings lowered shares of Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Rodman & Renshaw assumed coverage on shares of Hemab Therapeutics in a research report on Monday. They set a “buy” rating and a $56.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Hemab Therapeutics in a research note on Thursday. They issued an “overweight” rating and a $70.00 target price for the company. Finally, HC Wainwright upped their target price on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hemab Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $54.71.

Hemab Therapeutics Stock Performance

The firm has a market cap of $1.51 billion and a price-to-earnings ratio of -1.31. The firm has a 50 day moving average price of $41.66.

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). Research analysts forecast that Hemab Therapeutics Holdings, Inc. will post -3.09 earnings per share for the current year.

Institutional Trading of Hemab Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in COAG. Citadel Advisors LLC bought a new position in Hemab Therapeutics during the 2nd quarter valued at $19,226,000. Braidwell LP acquired a new position in Hemab Therapeutics during the 2nd quarter worth $5,877,000. State Street Corp bought a new stake in shares of Hemab Therapeutics in the 2nd quarter worth about $2,825,000. Opaleye Management Inc. bought a new stake in shares of Hemab Therapeutics in the 2nd quarter worth about $1,750,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Hemab Therapeutics in the 2nd quarter worth about $688,000.

About Hemab Therapeutics

Hemab Therapeutics (NASDAQ: COAG) is a clinical-stage biopharmaceutical company developing treatments for serious and potentially life-threatening bleeding disorders. The company focuses on rare conditions for which existing therapies may be limited, inconvenient, or ineffective for some patients.

Hemab’s lead investigational program, HMB-001, is an engineered bispecific antibody designed to improve blood clotting by enhancing thrombin generation through inhibition of tissue factor pathway inhibitor.