Hemab Therapeutics (NASDAQ:COAG) Trading Down 8% – What’s Next?

Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG)’s share price traded down 8% during mid-day trading on Wednesday . The stock traded as low as $33.78 and last traded at $33.78. Approximately 56,274 shares were traded during trading, a decline of 78% from the average daily volume of 260,032 shares. The stock had previously closed at $36.73.

Analysts Set New Price Targets

COAG has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Hemab Therapeutics in a report on Tuesday, May 26th. They set a “buy” rating and a $36.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Hemab Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $39.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of Hemab Therapeutics in a report on Friday, June 26th. Wall Street Zen raised shares of Hemab Therapeutics to a “hold” rating in a research report on Saturday, May 9th. Finally, Wedbush started coverage on shares of Hemab Therapeutics in a research note on Tuesday, May 26th. They issued an “outperform” rating and a $42.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.40.

Hemab Therapeutics Price Performance

The stock’s 50 day simple moving average is $27.63.

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

Insider Buying and Selling

In related news, major shareholder Ra Capital Management, L.P. acquired 61,523 shares of the stock in a transaction on Tuesday, June 16th. The shares were acquired at an average price of $24.98 per share, with a total value of $1,536,844.54. Following the completion of the transaction, the insider owned 6,444,637 shares in the company, valued at approximately $160,987,032.26. The trade was a 0.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 2,970,541 shares of company stock valued at $55,459,603 over the last 90 days.

Hemab Therapeutics Company Profile

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.