LogicBio Therapeutics (NASDAQ:LOGC) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of LogicBio Therapeutics (NASDAQ:LOGC) from a hold rating to a buy rating in a report released on Friday morning, Zacks.com reports. The brokerage currently has $9.25 price objective on the stock.
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 has been the subject of a number of other research reports. William Blair reaffirmed a buy rating on shares of LogicBio Therapeutics in a report on Tuesday, May 12th. Chardan Capital reaffirmed a buy rating and issued a $20.00 price target on shares of LogicBio Therapeutics in a report on Friday, May 22nd.
LogicBio Therapeutics (NASDAQ:LOGC) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.41) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.07. The business had revenue of $1.02 million during the quarter. As a group, sell-side analysts expect that LogicBio Therapeutics will post -1.91 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of LOGC. Victory Capital Management Inc. raised its position in LogicBio Therapeutics by 94.0% in the 1st quarter. Victory Capital Management Inc. now owns 5,819 shares of the company’s stock worth $29,000 after purchasing an additional 2,819 shares during the period. IHT Wealth Management LLC purchased a new stake in LogicBio Therapeutics in the 1st quarter worth about $58,000. Barclays PLC raised its position in LogicBio Therapeutics by 105.1% in the 4th quarter. Barclays PLC now owns 8,302 shares of the company’s stock worth $60,000 after purchasing an additional 4,254 shares during the period. UBS Group AG raised its position in LogicBio Therapeutics by 63.0% in the 4th quarter. UBS Group AG now owns 10,333 shares of the company’s stock worth $74,000 after purchasing an additional 3,993 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in LogicBio Therapeutics in the 4th quarter worth about $136,000. 47.91% of the stock is currently owned by 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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