LogicBio Therapeutics (NASDAQ:LOGC) Earns “Buy” Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of LogicBio Therapeutics (NASDAQ:LOGC) in a report released on Monday, AnalystRatings.com reports.

“We see limited read-across on nuclease-free editing controversy On 21 July, researchers from the California posted a manuscript to the bioRxiv preprint server outlining outlining unsuccessful efforts to reproduce efficient nuclease-free genome editing with clade F AAV vectors, based on a 2018 publication from Homology Medicines (unrated), which reported >50% editing with similar AAV vectors isolated from hematopoietic stem cells (AAVHSCs). Increasing attention drawn to the preprint to us may have sent Homology’s share price down >20% by the market close on July 25th. Below, we highlight some considerations for interpreting the data and the extent of potential read-across for other companies in the space.”,” Chardan Capital’s analyst commented.

LOGC has been the topic of a number of other research reports. Zacks Investment Research upgraded LogicBio Therapeutics from a sell rating to a hold rating in a research note on Saturday, July 27th. Roth Capital initiated coverage on LogicBio Therapeutics in a research note on Wednesday, May 1st. They set a buy rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $24.00.

Shares of LOGC opened at $11.65 on Monday. The stock’s 50-day moving average is $13.03. The firm has a market capitalization of $284.33 million and a PE ratio of -3.83. 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). As a group, equities research analysts expect that LogicBio Therapeutics will post -1.59 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in LOGC. BlackRock Inc. acquired a new position in shares of LogicBio Therapeutics during the 4th quarter worth approximately $3,927,000. Northern Trust Corp acquired a new position in shares of LogicBio Therapeutics during the 4th quarter worth approximately $873,000. Geode Capital Management LLC acquired a new position in shares of LogicBio Therapeutics during the 4th quarter worth approximately $626,000. American International Group Inc. acquired a new position in shares of LogicBio Therapeutics during the 4th quarter worth approximately $56,000. Finally, Deutsche Bank AG acquired a new position in shares of LogicBio Therapeutics during the 4th quarter worth approximately $115,000. Institutional investors and hedge funds own 55.94% of the company’s stock.

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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