LogicBio Therapeutics (NASDAQ:LOGC) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of LogicBio Therapeutics (NASDAQ:LOGC) from a hold rating to a sell rating in a research report released on Friday, 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. “

Separately, Roth Capital upped their price objective on Etsy from $72.00 to $76.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $24.00.

Shares of LOGC opened at $12.70 on Friday. The company has a market cap of $285.67 million and a P/E ratio of -4.18. The stock’s fifty day moving average is $13.15. LogicBio Therapeutics has a 12 month low of $6.70 and a 12 month high of $20.07.

LogicBio Therapeutics (NASDAQ:LOGC) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.02). On average, research analysts anticipate that LogicBio Therapeutics will post -1.59 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at $3,927,000. Northern Trust Corp acquired a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at $873,000. Geode Capital Management LLC acquired a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at $626,000. Deutsche Bank AG acquired a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at $115,000. Finally, American International Group Inc. acquired a new stake in shares of LogicBio Therapeutics in the fourth quarter valued at $56,000. Institutional investors own 55.94% of the company’s stock.

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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