LogicBio Therapeutics (NASDAQ:LOGC) Shares Up 14.6%

LogicBio Therapeutics Inc (NASDAQ:LOGC) shares shot up 14.6% during mid-day trading on Wednesday . The company traded as high as $8.32 and last traded at $8.15, 175,150 shares were traded during mid-day trading. An increase of 63% from the average session volume of 107,550 shares. The stock had previously closed at $7.11.

A number of brokerages have recently issued reports on LOGC. Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of LogicBio Therapeutics in a report on Friday, January 10th. Zacks Investment Research downgraded shares of LogicBio Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. William Blair reiterated an “outperform” rating on shares of LogicBio Therapeutics in a report on Friday, January 10th. Finally, ValuEngine upgraded shares of LogicBio Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $18.67.

The stock’s fifty day moving average price is $8.36 and its 200-day moving average price is $9.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 15.72 and a current ratio of 15.72. The firm has a market cap of $239.56 million, a PE ratio of -4.77 and a beta of 0.61.

LogicBio Therapeutics (NASDAQ:LOGC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.02). Sell-side analysts forecast that LogicBio Therapeutics Inc will post -1.78 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of LogicBio Therapeutics by 23.2% during the 2nd quarter. BlackRock Inc. now owns 451,723 shares of the company’s stock worth $5,873,000 after purchasing an additional 85,079 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of LogicBio Therapeutics by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 277,859 shares of the company’s stock worth $3,612,000 after purchasing an additional 7,588 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of LogicBio Therapeutics during the 3rd quarter worth about $156,000. Fiduciary Trust Co. acquired a new stake in shares of LogicBio Therapeutics during the 4th quarter worth about $223,000. Finally, State Street Corp boosted its stake in shares of LogicBio Therapeutics by 6.9% during the 4th quarter. State Street Corp now owns 127,448 shares of the company’s stock worth $918,000 after purchasing an additional 8,175 shares during the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

LogicBio Therapeutics Company Profile (NASDAQ:LOGC)

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.

Further Reading: Diversification in Investing

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.