Analysts Set LogicBio Therapeutics Inc (NASDAQ:LOGC) Target Price at $24.00

LogicBio Therapeutics Inc (NASDAQ:LOGC) has been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.00.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of LogicBio Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Roth Capital assumed coverage on shares of LogicBio Therapeutics in a research report on Wednesday, May 1st. They set a “buy” rating and a $26.00 price target on the stock.

Shares of LOGC traded down $0.30 during trading hours on Thursday, reaching $12.76. 880 shares of the stock traded hands, compared to its average volume of 16,640. The stock has a fifty day moving average price of $14.48. LogicBio Therapeutics has a 52 week low of $6.70 and a 52 week high of $20.07. The stock has a market cap of $343.94 million and a P/E ratio of -4.29.

LogicBio Therapeutics (NASDAQ:LOGC) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). On average, equities research analysts predict that LogicBio Therapeutics will post -1.48 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dean Capital Investments Management LLC bought a new stake in LogicBio Therapeutics in the fourth quarter worth about $543,000. BlackRock Inc. bought a new stake in LogicBio Therapeutics in the fourth quarter worth about $3,927,000. Deutsche Bank AG bought a new stake in LogicBio Therapeutics in the fourth quarter worth about $115,000. Victory Capital Management Inc. bought a new stake in LogicBio Therapeutics in the fourth quarter worth about $31,000. Finally, American International Group Inc. bought a new stake in LogicBio Therapeutics in the fourth quarter worth about $56,000. 55.94% of the stock is currently owned by 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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