Homology Medicines Shares Dive 30% to 52-Week Low After Trial Hold, Analysts Cuts
February 22 2022 - 12:47PM
Dow Jones News
By Chris Wack
Homology Medicines Inc. shares plunged 30% to a 52-week low of
$2.70 after the company said the U.S. Food and Drug Administration
will place its pheNIX gene therapy trial of HMI-102 in adults with
phenylketonuria on clinical hold.
The FDA cited the need to modify risk mitigation measures in the
study in response to observations of elevated liver function
tests.
On Friday, the genetics medicine company said it expects to
receive an official clinical hold letter within 30 days.
Homology plans to provide an update pending further clarity from
the FDA.
Homology has two ongoing clinical programs, the pheEDIT gene
editing trial of HMI-103 for PKU and the juMPStart gene therapy
trial of HMI-203 for Hunter syndrome, with program updates expected
by the end of this year.
Oppenheimer changed its recommendation for Homology stock to
perform from market perform. RBC Capital moved its stance to sector
perform from outperform, and cut its price target to $4 a share
from $30. BTIG cut its price target to $29 from $35 a share, and
Chardin Capital cut its price target to $15 from $25 a share. B of
A Securities cut its price target to $9 from $25 a share.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 22, 2022 12:32 ET (17:32 GMT)
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