LogicBio Therapeutics (NASDAQ:LOGC) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of LogicBio Therapeutics (NASDAQ:LOGC) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, 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. “

Several other equities analysts have also issued reports on LOGC. Chardan Capital reissued a buy rating and issued a $20.00 price target on shares of LogicBio Therapeutics in a report on Friday, May 22nd. William Blair reissued a buy rating on shares of LogicBio Therapeutics in a report on Tuesday, May 12th.

Shares of LogicBio Therapeutics stock opened at $7.84 on Thursday. The firm has a fifty day moving average of $8.12 and a two-hundred day moving average of $7.33. LogicBio Therapeutics has a 52 week low of $3.05 and a 52 week high of $14.00. The company has a current ratio of 8.95, a quick ratio of 8.95 and a debt-to-equity ratio of 0.29.

LogicBio Therapeutics (NASDAQ:LOGC) last issued its earnings results on Monday, May 11th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.07. The business had revenue of $1.02 million for the quarter. Sell-side analysts predict that LogicBio Therapeutics will post -1.91 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in LOGC. Oxford Asset Management LLP acquired a new position in shares of LogicBio Therapeutics in the 4th quarter valued at $136,000. UBS Group AG boosted its stake 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. Goldman Sachs Group Inc. boosted its stake in LogicBio Therapeutics by 6.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 25,172 shares of the company’s stock worth $181,000 after purchasing an additional 1,480 shares during the period. Geode Capital Management LLC boosted its stake in LogicBio Therapeutics by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 94,969 shares of the company’s stock worth $683,000 after purchasing an additional 2,019 shares during the period. Finally, Victory Capital Management Inc. boosted its stake 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. 47.69% of the stock is 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.

Recommended Story: What defines an oversold asset?

Get a free copy of the Zacks research report on LogicBio Therapeutics (LOGC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for LogicBio Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogicBio Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.