LogicBio Therapeutics Inc (NASDAQ:LOGC) Given Average Rating of “Buy” by Analysts
LogicBio Therapeutics Inc (NASDAQ:LOGC) has earned an average recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.00.
A number of brokerages have recently commented on LOGC. Roth Capital upped their price target on Etsy from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday.
LOGC stock traded down $0.47 during midday trading on Monday, hitting $12.70. The company’s stock had a trading volume of 4,933 shares, compared to its average volume of 22,600. The company’s 50-day moving average is $13.15. LogicBio Therapeutics has a 1 year low of $6.70 and a 1 year high of $20.07. The stock has a market cap of $296.25 million and a PE ratio of -4.18.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of LogicBio Therapeutics during the 4th quarter valued at $3,927,000. Deutsche Bank AG purchased a new stake in LogicBio Therapeutics during the 4th quarter worth about $115,000. American International Group Inc. purchased a new stake in LogicBio Therapeutics during the 4th quarter worth about $56,000. Orbimed Advisors LLC purchased a new stake in LogicBio Therapeutics during the 4th quarter worth about $67,255,000. Finally, Samlyn Capital LLC purchased a new stake in LogicBio Therapeutics during the 4th quarter worth about $5,716,000. 55.94% of the stock is currently owned by hedge funds and other institutional investors.
LogicBio Therapeutics Company Profile
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.
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