LogicBio Therapeutics (NASDAQ:LOGC – Get Rating) was upgraded by equities researchers at William Blair from a “market perform” rating to an “outperform” rating in a report issued on Monday, The Fly reports.
LOGC has been the subject of several other research reports. Zacks Investment Research raised LogicBio Therapeutics from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Tuesday, March 8th. Chardan Capital cut their price objective on LogicBio Therapeutics from $16.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, February 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $9.15.
Shares of LOGC stock traded up $0.15 during trading on Monday, hitting $0.65. The company’s stock had a trading volume of 854,189 shares, compared to its average volume of 284,480. The business has a fifty day moving average of $0.65 and a 200-day moving average of $1.74. LogicBio Therapeutics has a 52 week low of $0.39 and a 52 week high of $5.19. The company has a market cap of $21.52 million, a PE ratio of -0.54 and a beta of 1.51. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.16.
A number of hedge funds have recently made changes to their positions in the business. Morgan Stanley raised its holdings in shares of LogicBio Therapeutics by 99.2% during the second quarter. Morgan Stanley now owns 18,055 shares of the company’s stock valued at $80,000 after acquiring an additional 8,991 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of LogicBio Therapeutics during the second quarter valued at approximately $63,000. Millennium Management LLC bought a new position in shares of LogicBio Therapeutics during the second quarter valued at approximately $419,000. Commonwealth Equity Services LLC bought a new position in shares of LogicBio Therapeutics during the third quarter valued at approximately $58,000. Finally, Platinum Investment Management Ltd. bought a new position in shares of LogicBio Therapeutics during the third quarter valued at approximately $1,467,000. Hedge funds and other institutional investors own 55.20% of the company’s stock.
About LogicBio Therapeutics (Get Rating)
LogicBio Therapeutics, Inc, a genetic medicine company, focuses on developing and commercializing genome editing and gene therapy treatments using its GeneRide and sAAVy platforms. The company's GeneRide technology is a new approach to precise gene insertion harnessing a cell's natural deoxyribonucleic acid; and gene delivery platform, sAAVy is an adeno-associated virus, which is designed to optimize gene delivery for treatments in a range of indications and tissues.
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