LogicBio Therapeutics (NASDAQ:LOGC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “LogicBio Therapeutics Inc. is a genome editing company. It focuses on developing medicines to treat rare diseases in patients with significant unmet medical needs. The company’s technology platform consists of GeneRide(TM). LogicBio Therapeutics Inc. is based in Cambridge, Massachusetts. “

LOGC opened at $10.27 on Wednesday. LogicBio Therapeutics has a fifty-two week low of $6.70 and a fifty-two week high of $18.00. The firm has a market cap of $233.56 million and a PE ratio of -3.38.

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). Research analysts forecast that LogicBio Therapeutics will post -2.47 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Deutsche Bank AG bought a new position in shares of LogicBio Therapeutics during the fourth quarter worth approximately $115,000. Geode Capital Management LLC acquired a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at approximately $626,000. Orbimed Advisors LLC acquired a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at approximately $67,255,000. Samlyn Capital LLC bought a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at approximately $5,716,000. Finally, Sphera Funds Management LTD. bought a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at approximately $4,343,000. 56.50% of the stock is owned by hedge funds and other institutional investors.

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.

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