Homology Medicines, Inc. (NASDAQ:FIXX) Short Interest Down 10.5% in August

Homology Medicines, Inc. (NASDAQ:FIXX) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 279,700 shares, a drop of 10.5% from the August 15th total of 312,600 shares. Based on an average trading volume of 344,700 shares, the short-interest ratio is presently 0.8 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Trading of Homology Medicines

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC acquired a new position in Homology Medicines during the 2nd quarter valued at $1,422,000. BlackRock Inc. raised its stake in Homology Medicines by 7.9% during the 1st quarter. BlackRock Inc. now owns 3,869,946 shares of the company’s stock valued at $11,765,000 after purchasing an additional 282,169 shares during the last quarter. UBS Group AG raised its stake in Homology Medicines by 677.7% during the 2nd quarter. UBS Group AG now owns 190,122 shares of the company’s stock valued at $375,000 after purchasing an additional 165,674 shares during the last quarter. State Street Corp raised its stake in Homology Medicines by 17.1% during the 1st quarter. State Street Corp now owns 990,911 shares of the company’s stock valued at $3,012,000 after purchasing an additional 144,566 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Homology Medicines by 52.4% during the 3rd quarter. Renaissance Technologies LLC now owns 379,100 shares of the company’s stock valued at $610,000 after purchasing an additional 130,300 shares during the last quarter. 30.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Chardan Capital reissued a “buy” rating on shares of Homology Medicines in a research note on Monday, July 10th. Robert W. Baird cut shares of Homology Medicines from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $1.50 in a research note on Friday, July 28th.

Homology Medicines Price Performance

FIXX traded up $0.03 on Monday, reaching $1.20. 133,944 shares of the company traded hands, compared to its average volume of 205,950. The stock’s 50 day moving average price is $1.15 and its 200-day moving average price is $1.06. Homology Medicines has a 52-week low of $0.80 and a 52-week high of $2.29. The company has a market cap of $69.37 million, a price-to-earnings ratio of -0.52 and a beta of 0.03.

Homology Medicines (NASDAQ:FIXX) last posted its earnings results on Monday, August 14th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.10). The business had revenue of $0.35 million during the quarter. Homology Medicines had a negative net margin of 4,779.31% and a negative return on equity of 80.15%. As a group, equities research analysts forecast that Homology Medicines will post -2.05 earnings per share for the current fiscal year.

About Homology Medicines

Homology Medicines, Inc, a genetic medicines company, focuses on transforming the lives of patients suffering from rare genetic 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 nuclease-free gene editing mobility, gene therapy or for various genetic disorders.