Hemab Therapeutics (NASDAQ:COAG) Shares Gap Down – Here’s Why

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG)’s stock price gapped down before the market opened on Thursday. The stock had previously closed at $32.60, but opened at $30.82. Hemab Therapeutics shares last traded at $30.64, with a volume of 16,097 shares trading hands.

Wall Street Analyst Weigh In

COAG has been the topic of several recent analyst reports. Wedbush increased their target price on shares of Hemab Therapeutics from $55.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Jefferies Financial Group upped their price target on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Weiss Ratings downgraded Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Finally, HC Wainwright boosted their target price on Hemab Therapeutics from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Hemab Therapeutics Trading Up 0.2%

The company’s 50-day simple moving average is $45.06. The company has a market cap of $1.44 billion and a PE ratio of -1.25.

Hemab Therapeutics (NASDAQ:COAG) last released its earnings results on Tuesday, August 11th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates 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 year.

Hedge Funds Weigh In On Hemab Therapeutics

A number of large investors have recently modified their holdings of the company. State Street Corp purchased a new stake in Hemab Therapeutics in the second quarter worth approximately $2,825,000. Opaleye Management Inc. bought a new position in shares of Hemab Therapeutics in the second quarter worth approximately $1,750,000. The Manufacturers Life Insurance Company purchased a new position in shares of Hemab Therapeutics in the second quarter valued at about $688,000. Squarepoint Ops LLC bought a new position in Hemab Therapeutics during the 2nd quarter valued at approximately $230,000. Finally, Citadel Advisors LLC purchased a new stake in Hemab Therapeutics in the second quarter worth $19,226,000.

Hemab Therapeutics Company Profile

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.