Hemab Therapeutics (NASDAQ:COAG) Shares Down 3.8% – Time to Sell?

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) shares dropped 3.8% on Wednesday . The company traded as low as $40.52 and last traded at $41.67. Approximately 7,464 shares traded hands during trading, a decline of 97% from the average daily volume of 268,744 shares. The stock had previously closed at $43.31.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COAG. HC Wainwright raised their target price on Hemab Therapeutics from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Monday. Wedbush reiterated an “outperform” rating and issued a $55.00 price objective (up from $42.00) on shares of Hemab Therapeutics in a report on Monday. Jefferies Financial Group raised 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. Zacks Research upgraded shares of Hemab Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Hemab Therapeutics to a “hold” rating in a research note on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Hemab Therapeutics Stock Performance

The stock’s 50-day simple moving average is $28.99. The stock has a market cap of $2.01 billion and a P/E ratio of -1.79.

Hemab Therapeutics (NASDAQ:COAG) last issued its quarterly earnings results on Thursday, May 21st. The company reported ($23.98) earnings per share for the quarter.

Insiders Place Their Bets

In other news, major shareholder Ra Capital Management, L.P. acquired 61,523 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was bought at an average cost of $24.98 per share, with a total value of $1,536,844.54. Following the completion of the purchase, the insider directly owned 6,444,637 shares of the company’s stock, valued at $160,987,032.26. This represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 2,970,541 shares of company stock worth $55,459,603.

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.