Brokerages Anticipate Homology Medicines Inc (NASDAQ:FIXX) Will Announce Quarterly Sales of $380,000.00

Wall Street analysts predict that Homology Medicines Inc (NASDAQ:FIXX) will report sales of $380,000.00 for the current quarter, according to Zacks. Two analysts have made estimates for Homology Medicines’ earnings. The lowest sales estimate is $250,000.00 and the highest is $500,000.00. Homology Medicines reported sales of $950,000.00 during the same quarter last year, which indicates a negative year-over-year growth rate of 60%. The firm is expected to report its next quarterly earnings results on Tuesday, November 12th.

According to Zacks, analysts expect that Homology Medicines will report full-year sales of $1.41 million for the current fiscal year, with estimates ranging from $1.16 million to $1.66 million. For the next year, analysts forecast that the firm will post sales of $12.50 million, with estimates ranging from $1.00 million to $24.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Homology Medicines.

Homology Medicines (NASDAQ:FIXX) last issued its earnings results on Thursday, August 8th. The company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.06). The company had revenue of $0.39 million for the quarter, compared to analyst estimates of $1.00 million. Homology Medicines had a negative return on equity of 38.74% and a negative net margin of 3,232.67%.

A number of analysts have recently weighed in on FIXX shares. Zacks Investment Research raised Homology Medicines from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Oppenheimer began coverage on shares of Homology Medicines in a research note on Friday, November 1st. They set a “market perform” rating for the company. Robert W. Baird began coverage on shares of Homology Medicines in a research note on Monday, September 9th. They issued an “outperform” rating and a $30.00 price objective for the company. HC Wainwright set a $36.00 price objective on shares of Homology Medicines and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, FIX began coverage on shares of Homology Medicines in a research note on Thursday, October 31st. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.40.

In other news, insider Albert Seymour sold 9,300 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.74, for a total transaction of $174,282.00. Following the completion of the sale, the insider now owns 191,050 shares in the company, valued at $3,580,277. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Arthur Tzianabos sold 12,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.75, for a total transaction of $234,375.00. Following the sale, the chief executive officer now owns 140,005 shares of the company’s stock, valued at approximately $2,625,093.75. The disclosure for this sale can be found here. Insiders sold 56,766 shares of company stock valued at $1,027,914 in the last 90 days. 33.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in FIXX. Aperio Group LLC acquired a new stake in shares of Homology Medicines during the second quarter worth about $34,000. Bank of Montreal Can acquired a new stake in shares of Homology Medicines during the second quarter worth about $40,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Homology Medicines during the second quarter worth about $42,000. Marshall Wace LLP acquired a new stake in shares of Homology Medicines during the first quarter worth about $74,000. Finally, Royal Bank of Canada boosted its stake in shares of Homology Medicines by 300.0% during the second quarter. Royal Bank of Canada now owns 4,000 shares of the company’s stock worth $78,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds own 68.07% of the company’s stock.

Shares of Homology Medicines stock opened at $11.45 on Friday. Homology Medicines has a 1-year low of $11.26 and a 1-year high of $31.80. The stock’s 50 day simple moving average is $15.07 and its 200-day simple moving average is $18.53. The stock has a market cap of $544.30 million, a P/E ratio of -5.73 and a beta of -0.01.

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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