LogicBio Therapeutics, Inc. (NASDAQ:LOGC) Given Consensus Rating of “Buy” by Brokerages

LogicBio Therapeutics, Inc. (NASDAQ:LOGC – Get Rating) has been assigned an average recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.25.

Several equities research analysts have recently commented on LOGC shares. Zacks Investment Research downgraded shares of LogicBio Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday. Chardan Capital reduced their target price on shares of LogicBio Therapeutics from $16.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, February 2nd. Finally, William Blair upgraded shares of LogicBio Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Monday.

Shares of NASDAQ:LOGC opened at $0.47 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 2.84. The business’s fifty day moving average price is $0.64 and its two-hundred day moving average price is $1.71. LogicBio Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $5.19. The stock has a market capitalization of $15.33 million, a price-to-earnings ratio of -0.37 and a beta of 1.51.

LogicBio Therapeutics (NASDAQ:LOGC – Get Rating) last issued its earnings results on Friday, March 4th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. LogicBio Therapeutics had a negative net margin of 739.91% and a negative return on equity of 95.00%. The company had revenue of $2.03 million for the quarter, compared to the consensus estimate of $2.00 million. Research analysts expect that LogicBio Therapeutics will post -1.11 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in LogicBio Therapeutics by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 138,465 shares of the company’s stock worth $634,000 after buying an additional 6,344 shares in the last quarter. Morgan Stanley lifted its position in LogicBio Therapeutics by 99.2% during the 2nd quarter. Morgan Stanley now owns 18,055 shares of the company’s stock worth $80,000 after buying an additional 8,991 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in LogicBio Therapeutics during the 3rd quarter worth about $58,000. Independence Bank of Kentucky acquired a new position in LogicBio Therapeutics during the 4th quarter worth about $30,000. Finally, Citadel Advisors LLC acquired a new position in LogicBio Therapeutics during the 2nd quarter worth about $63,000. Institutional investors and hedge funds own 55.20% of the company’s stock.

LogicBio Therapeutics Company Profile (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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