Homology Medicines (NASDAQ:FIXX) Stock Rating Lowered by Zacks Investment Research

Homology Medicines (NASDAQ:FIXX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, 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 equities research analysts also recently issued research reports about the company. ValuEngine raised Homology Medicines from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Chardan Capital reaffirmed a “buy” rating and set a $34.00 target price on shares of Homology Medicines in a report on Friday, March 13th. BidaskClub downgraded Homology Medicines from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of Homology Medicines in a report on Friday, March 13th. Finally, FIX raised Homology Medicines from a “market perform” rating to an “outperform” rating in a report on Monday, March 16th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Homology Medicines currently has an average rating of “Buy” and a consensus target price of $31.00.

Shares of FIXX stock opened at $16.99 on Wednesday. Homology Medicines has a fifty-two week low of $11.05 and a fifty-two week high of $31.50. The firm has a market capitalization of $719.13 million, a price-to-earnings ratio of -6.88 and a beta of 0.28. The stock’s 50-day simple moving average is $17.12 and its 200-day simple moving average is $17.01.

Homology Medicines (NASDAQ:FIXX) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.55) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.13. Homology Medicines had a negative return on equity of 42.62% and a negative net margin of 6,237.46%. The business had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.40 million. As a group, equities analysts expect that Homology Medicines will post -2.82 earnings per share for the current year.

In other Homology Medicines news, major shareholder James E. Flynn sold 8,857 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $15.45, for a total value of $136,840.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Albert Seymour sold 9,133 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.50, for a total value of $187,226.50. Following the completion of the transaction, the insider now directly owns 154,017 shares of the company’s stock, valued at $3,157,348.50. The disclosure for this sale can be found here. Insiders sold 611,420 shares of company stock valued at $9,735,913 over the last three months. 33.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in FIXX. Bank of Montreal Can raised its stake in shares of Homology Medicines by 42.8% during the 4th quarter. Bank of Montreal Can now owns 3,105 shares of the company’s stock worth $64,000 after buying an additional 930 shares during the period. California State Teachers Retirement System raised its stake in shares of Homology Medicines by 3.2% during the 3rd quarter. California State Teachers Retirement System now owns 38,634 shares of the company’s stock worth $699,000 after buying an additional 1,201 shares during the period. Great West Life Assurance Co. Can acquired a new position in shares of Homology Medicines during the 4th quarter worth approximately $28,000. Swiss National Bank raised its stake in shares of Homology Medicines by 4.7% during the 4th quarter. Swiss National Bank now owns 37,900 shares of the company’s stock worth $785,000 after buying an additional 1,700 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Homology Medicines by 7.8% during the 4th quarter. Alliancebernstein L.P. now owns 28,900 shares of the company’s stock worth $598,000 after buying an additional 2,100 shares during the period. 81.82% of the stock is owned by institutional investors.

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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