H.C. Wainwright Starts Homology Medicines (FIXX) at Buy

H.C. Wainwright analyst Debjit Chattopadhyay initiates coverage on Homology Medicines (NASDAQ: FIXX) with a Buy rating and a price target of $36.00.

The analyst commented, "Homology Medicine's platform leverages two differentiated and complementary assets: (1) novel AAV variants derived from CD34+ stem cells, termed as AAVHSCs; and (2) nuclease-free, homologous DNA repair (HDR) mechanism—the road less traveled in the race for gene editing. Homology Medicines is deploying these two levers independently, as in the case of its lead asset HMI-102 or complementarily in the case of HMI-103. While HMI-102 is a traditional gene therapy designed to provide durable clinical benefit for adult PKU patients, HMI-103 leverages the HDR pathway in conjunction with AAVHSCs, to deliver a gene editing option in the pediatric setting. Beyond these, Homology Medicines is advancing HMI-202 as a potentially curative therapy for pediatric MLD patients that leverages AAVHSCs ability to efficiently undergo entry and post-entry processing along with stable, long-term, engraftment of human HSCs. If successful in leukodystophies, these novel class of Clade F vectors could experience expanded clinical utility in other neuro-degenrative conditions and hemoglobinopathies, especially if engraftment can be achieved with high intensity myeloablative conditions of patients, which carries a 5% risk of procedural mortality along with other long-term complications. We view the safety-centric update from the HMI-102 by YE19, as a significant de-risking event for the company, as a clean bill of health for the AAVHSCs vector could have positive platform-wide implications. Based on the disruptive potential of the novel vectors and the high precision HDR-based knockin applications, we initiate Homology Medicines with a Buy and $36 price target."

For an analyst ratings summary and ratings history on Homology Medicines click here. For more ratings news on Homology Medicines click here.

Shares of Homology Medicines closed at $24.03 yesterday.

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