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

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Chardan Capital reissued their buy rating on shares of LogicBio Therapeutics (NASDAQ:LOGC) in a research note issued to investors on Thursday morning, AnalystRatings.com reports. The firm currently has a $20.00 target price on the stock.

A number of other analysts have also weighed in on LOGC. Roth Capital initiated coverage on shares of LogicBio Therapeutics in a research report on Wednesday, May 1st. They issued a buy rating and a $26.00 price objective on the stock. Zacks Investment Research raised shares of LogicBio Therapeutics from a sell rating to a hold rating in a research report on Saturday, August 10th. Finally, ValuEngine raised shares of LogicBio Therapeutics from a hold rating to a buy rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. LogicBio Therapeutics presently has an average rating of Buy and a consensus price target of $24.00.

Shares of NASDAQ LOGC opened at $8.07 on Thursday. The firm’s 50-day moving average price is $11.84 and its 200-day moving average price is $11.85. The stock has a market capitalization of $184.68 million and a price-to-earnings ratio of -2.65. LogicBio Therapeutics has a 12-month low of $6.70 and a 12-month high of $20.07.

LogicBio Therapeutics (NASDAQ:LOGC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.04). On average, equities analysts forecast that LogicBio Therapeutics will post -1.73 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in LogicBio Therapeutics in the 4th quarter worth $3,927,000. Northern Trust Corp bought a new position in LogicBio Therapeutics in the 4th quarter worth $873,000. Geode Capital Management LLC bought a new position in LogicBio Therapeutics in the 4th quarter worth $626,000. Deutsche Bank AG bought a new position in LogicBio Therapeutics in the 4th quarter worth $115,000. Finally, Stanley Laman Group Ltd. bought a new position in LogicBio Therapeutics in the 2nd quarter worth $254,000. 56.03% 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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