Homology Medicines (FIXX) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Homology Medicines (NASDAQ:FIXX) from a buy rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

According to Zacks, “Homology Medicines Inc. is a genetic medicines company. Its platform offers human hematopoietic stem cell derived adeno-associated virus vectors to treat disease-causing mutations through gene correction, insertion and knockout. Homology Medicines Inc. is based in BEDFORD MA. “

Other research analysts also recently issued reports about the stock. ValuEngine raised shares of Homology Medicines from a hold rating to a buy rating in a report on Friday, March 1st. HC Wainwright initiated coverage on shares of Homology Medicines in a report on Wednesday, February 20th. They issued a buy rating and a $36.00 price target for the company. Finally, Evercore ISI initiated coverage on shares of Homology Medicines in a research report on Thursday, April 11th. They set an outperform rating and a $29.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $29.10.

NASDAQ:FIXX traded down $0.04 during trading hours on Thursday, hitting $22.31. The stock had a trading volume of 555 shares, compared to its average volume of 274,909. Homology Medicines has a one year low of $15.07 and a one year high of $31.80. The company has a market cap of $971.08 million, a price-to-earnings ratio of -11.16 and a beta of 0.11.

Homology Medicines (NASDAQ:FIXX) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.11). Homology Medicines had a negative net margin of 2,253.08% and a negative return on equity of 34.90%. The firm had revenue of $0.27 million during the quarter, compared to the consensus estimate of $1.00 million. As a group, sell-side analysts forecast that Homology Medicines will post -2.12 earnings per share for the current fiscal year.

In related news, insider James E. Flynn acquired 533,333 shares of the stock in a transaction dated Friday, April 12th. The shares were purchased at an average price of $22.50 per share, for a total transaction of $11,999,992.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 33.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Homology Medicines by 246.7% during the 3rd quarter. Wells Fargo & Company MN now owns 6,167 shares of the company’s stock valued at $141,000 after buying an additional 4,388 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Homology Medicines by 29.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,251,444 shares of the company’s stock valued at $51,468,000 after buying an additional 516,156 shares in the last quarter. VV Manager LLC purchased a new stake in shares of Homology Medicines during the 4th quarter valued at $17,236,000. Essex Investment Management Co. LLC purchased a new stake in shares of Homology Medicines during the 4th quarter valued at $169,000. Finally, Northern Trust Corp raised its position in shares of Homology Medicines by 49.6% during the 4th quarter. Northern Trust Corp now owns 181,361 shares of the company’s stock valued at $4,055,000 after buying an additional 60,163 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Homology Medicines

Homology Medicines, Inc, a genetic medicines company, focuses on translating proprietary gene editing and gene therapy technologies into novel treatments for patients with rare diseases. Its proprietary platform is designed to utilize its human hematopoietic stem cell derived adeno-associated virus vectors (AAVHSCs) to deliver genetic medicines in vivo either through a gene therapy or nuclease-free gene editing modality across a range of genetic disorders.

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