Hemab Therapeutics Holdings, Inc. (COAG)

Insider Trading Filed: 2026-05-14

RA Capital Management and affiliated funds purchased 6,387 shares of COAG at a weighted average price of $24.90 on 05/12/2026, demonstrating continued insider confidence in the company at current valuation levels.
The reporting shows RA Capital's substantial beneficial ownership across three fund vehicles: 6,372,170 shares directly held by RA Capital Healthcare Fund LP, 1,009,052 by Nexus Fund II, and 354,938 by Nexus Fund IV, totaling approximately 7.7 million shares of combined positions.
Multiple related parties (RA Capital Management LP, RA Capital Healthcare Fund LP, Peter Kolchinsky, and Rajeev Shah) filed jointly, indicating coordinated fund management and aligned incentives among the investment group with significant director-level influence.
The purchase price range of $24.70-$25.00 suggests steady demand and relatively stable valuation during this period, with no dramatic price movements that would typically signal concerning volatility.

Current Report Filed: 2026-05-11

Board member Dr. Laura Tadvalkar resigned effective immediately on May 8, 2026, reducing board representation, though the company explicitly stated the departure was unrelated to operational disagreements or disputes.
The resignation was characterized as non-contentious with no disclosed conflicts over company operations, policies, or practices, suggesting an amicable departure rather than a governance concern.
As an emerging growth company, Hemab Therapeutics has flexibility in governance requirements, but the loss of a board member may impact oversight capacity depending on total board size and remaining expertise.

Insider Trading Filed: 2026-05-11

RA Capital Management and affiliated funds (Healthcare Fund LP, Nexus II, and Nexus IV) collectively purchased approximately 51,258 shares of COAG between May 7-11, 2026, at prices ranging from $23.77 to $25.00, demonstrating sustained insider buying confidence.
The purchases represent a significant accumulation with total beneficial ownership reaching 6,365,783 shares across the reporting entities, indicating substantial long-term commitment to the company's direction.
Multiple transactions executed over a 5-day period at relatively stable price points ($24-25 range) suggest a deliberate, methodical investment strategy rather than reactive trading, reflecting management's conviction in the stock's value.
Four reporting persons (RA Capital Management LP, Healthcare Fund LP, Peter Kolchinsky, and Rajeev Shah) filed jointly, showing aligned interests and coordinated insider activity within the investment management structure.

Insider Trading Filed: 2026-05-06

Novo Holdings A/S, a 10% owner and director of Hemab Therapeutics, acquired 4,180,550 common shares on 05/04/2026 through automatic conversion of preferred stock in connection with the company's IPO closing.
The transaction involved conversion of multiple preferred stock series (Seed, Series A, B, and C) into common stock on a 22-for-1 basis with no additional consideration paid, representing a significant pre-IPO to public equity transition.
This is a routine IPO-related conversion activity rather than a discretionary insider buy or sell, indicating Novo Holdings maintained its substantial ownership stake through the public offering process at an IPO closing.

Current Report Filed: 2026-05-04

Hemab Therapeutics completed its IPO on May 4, 2026, raising $346.7 million in gross proceeds at $18.00 per share, including full exercise of underwriter options for 19.3 million shares.
The company implemented anti-takeover protections including a classified board with staggered three-year terms, 75% supermajority vote requirement for director removal, and elimination of stockholder written consent rights.
The Restated Certificate authorizes 400 million common shares and 5 million undesignated preferred shares, significantly increasing capital structure flexibility post-IPO.
Delaware Court of Chancery is designated as exclusive forum for internal corporate claims, while federal courts handle securities law claims, limiting stockholder litigation venue options.

Insider Trading Filed: 2026-05-04

CFO and General Manager Mads Nikolaj Behrndt-Eriksen received 195,206 warrant shares at $6 exercise price and 49,016 stock options at $18 exercise price, representing significant equity compensation grants in January and April 2026.
Both equity awards have standard 4-year vesting schedules, with warrants vesting 25% upfront on January 1, 2027 followed by monthly installments, and options vesting monthly from May 2026 through May 2030, indicating long-term retention incentives.
No direct stock purchases or sales by the insider are reported in this filing, only new grant issuances, suggesting the company is using equity compensation as a retention tool rather than indicating insider confidence through open market buying.
The exercise prices ($6 for warrants, $18 for options) suggest the company granted these awards at potentially significant premiums to current trading levels, typical for new officer compensation packages.

Insider Trading Filed: 2026-05-04

Chief Medical Officer Catherine Madigan received 145,134 warrant shares at $6 exercise price with 4-year vesting starting January 29, 2026, indicating equity compensation for executive retention and alignment with company performance.
Additional stock option grant of 49,016 shares at $18 exercise price granted April 30, 2026 with monthly vesting through May 2030 demonstrates continued equity incentive structure for senior management.
The significant equity grants totaling ~194,150 potential shares reflect substantial commitment to retaining the CMO role, suggesting confidence in the company's therapeutic pipeline and future value creation.

Insider Trading Filed: 2026-05-04

Director John Maraganore acquired 35,948 shares of common stock through conversion of preferred shares (Series B and C) during the company's IPO closing on May 4, 2026, indicating significant insider commitment to the newly public company.
Maraganore received 107,338 warrant shares on January 29, 2026 with a $6 exercise price, vesting over three years in monthly installments through January 2029, representing a substantial equity compensation package aligned with long-term performance.
The preferred stock conversion without additional payment demonstrates automatic conversion upon IPO, which is standard practice but reflects the insider's equity position was established before public markets with favorable terms relative to public offering.
All securities are held directly (Direct ownership) with no indirect holdings reported, providing transparency on the insider's personal stake in the company without complex ownership structures.

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