Hemab Therapeutics (NASDAQ:COAG) Stock Price Down 6.5% – Time to Sell?

Shares of Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) traded down 6.5% during trading on Monday. The company traded as low as $44.98 and last traded at $45.84. Approximately 278,602 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 389,293 shares. The stock had previously closed at $49.02.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Rodman & Renshaw assumed coverage on Hemab Therapeutics in a report on Monday, October 12th. They set a “buy” rating and a $56.00 price objective on the stock. Jefferies Financial Group upped their target price on Hemab Therapeutics from $39.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. began coverage on Hemab Therapeutics in a research report on Thursday, October 15th. They issued an “overweight” rating and a $70.00 target price for the company. Weiss Ratings downgraded shares of Hemab Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Finally, HC Wainwright boosted their price target on shares of Hemab Therapeutics from $52.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Hemab Therapeutics Trading Down 8.9%

The firm has a market cap of $2.09 billion and a PE ratio of -1.80. The business has a 50 day moving average price of $37.50.

Hemab Therapeutics (NASDAQ:COAG) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.17). On average, research analysts predict that Hemab Therapeutics Holdings, Inc. will post -3.10 EPS for the current year.

Institutional Trading of Hemab Therapeutics

A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in shares of Hemab Therapeutics in the 3rd quarter valued at $46,000. Profund Advisors LLC bought a new stake in shares of Hemab Therapeutics in the 3rd quarter worth about $246,000. China Universal Asset Management Co. Ltd. increased its position in shares of Hemab Therapeutics by 77.8% during 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 in the last quarter. State Street Corp acquired a new stake in shares of Hemab Therapeutics during the 2nd quarter worth about $2,825,000. Finally, Opaleye Management Inc. bought a new position in Hemab Therapeutics during the 2nd quarter valued at about $1,750,000.

About Hemab Therapeutics

Hemab Therapeutics is a clinical-stage biotechnology company focused on developing treatments for serious bleeding disorders. The company’s research is aimed at addressing conditions in which patients experience inadequate clot formation or difficulty controlling bleeding, including rare inherited and acquired disorders.

Hemab’s lead investigational program, HMB-001, is being developed as a potential treatment for Glanzmann thrombasthenia, a rare inherited platelet disorder that can cause severe and recurring bleeding.