LogicBio Therapeutics Inc (LOGC) Given Consensus Recommendation of “Buy” by Analysts

Shares of LogicBio Therapeutics Inc (NASDAQ:LOGC) have been given a consensus recommendation of “Buy” by the six research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $24.00.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of LogicBio Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Roth Capital assumed coverage on shares of LogicBio Therapeutics in a research note on Wednesday, May 1st. They issued a “buy” rating and a $26.00 price target on the stock.

Shares of LOGC stock traded down $0.65 on Wednesday, hitting $13.46. The company’s stock had a trading volume of 16,915 shares, compared to its average volume of 21,406. LogicBio Therapeutics has a fifty-two week low of $6.70 and a fifty-two week high of $18.00. The company has a market capitalization of $310.56 million and a PE ratio of -4.43.

LogicBio Therapeutics (NASDAQ:LOGC) last released its quarterly earnings results on Monday, April 1st. The company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.02). On average, equities research analysts anticipate that LogicBio Therapeutics will post -1.78 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Orbimed Advisors LLC bought a new stake in LogicBio Therapeutics during the fourth quarter worth about $67,255,000. Samlyn Capital LLC bought a new stake in LogicBio Therapeutics during the fourth quarter worth about $5,716,000. Sphera Funds Management LTD. bought a new stake in LogicBio Therapeutics during the fourth quarter worth about $4,343,000. BlackRock Inc. bought a new stake in LogicBio Therapeutics during the fourth quarter worth about $3,927,000. Finally, Northern Trust Corp bought a new stake in LogicBio Therapeutics during the fourth quarter worth about $873,000. 56.50% of the stock is owned by institutional investors and hedge funds.

About LogicBio Therapeutics

LogicBio Therapeutics, Inc, a genome editing company, focuses on developing medicines to treat rare diseases in patients with unmet medical need using GeneRide technology platform. The GeneRide technology is designed to integrate corrective genes into a patient's genome to provide a therapeutic effect.

Featured Article: Channel Trading

Receive News & Ratings for LogicBio Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogicBio Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.