5 Unknown Biotech Stocks That Can Explode in 2022

3. Homology Medicines, Inc. (NASDAQ:FIXX)

Number of Hedge Fund Holders: 9   

Homology Medicines, Inc. (NASDAQ:FIXX) operates a genetics medicine firm. On June 13, the company announced that authorities in the United States had lifted a clinical hold on trials of a pheNIX gene therapy of the firm. The therapy is designed to treat patients with phenylketonuria, an inherited disorder that can lead to brain damage, intellectual disabilities or seizures. The FDA had ordered the hold in February citing need for further risk prevention measures in the trial, a concern that Homology has now addressed. 

On June 13, HC Wainwright analyst Patrick Trucchio reiterated a Buy rating on Homology Medicines, Inc. (NASDAQ:FIXX) stock with a price target of $20, noting that valuation of the firm was “compelling” at present levels. 

At the end of the first quarter of 2022, 9 hedge funds in the database of Insider Monkey held stakes worth $7 million in Homology Medicines, Inc. (NASDAQ:FIXX), compared to 14 in the preceding quarter worth $9 million. 

Among the hedge funds being tracked by Insider Monkey, California-based investment firm Vivo Capital is the only shareholder in Homology Medicines, Inc. (NASDAQ:FIXX) with 853,143 shares worth $2.5 million.