Wells Fargo & Company MN Acquires 5,696 Shares of LogicBio Therapeutics, Inc. (NASDAQ:LOGC)

Wells Fargo & Company MN boosted its stake in LogicBio Therapeutics, Inc. (NASDAQ:LOGC) by 46.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,084 shares of the company’s stock after purchasing an additional 5,696 shares during the period. Wells Fargo & Company MN owned about 0.06% of LogicBio Therapeutics worth $138,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of LogicBio Therapeutics by 25.5% during the 4th quarter. BlackRock Inc. now owns 903,727 shares of the company’s stock valued at $6,895,000 after acquiring an additional 183,768 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of LogicBio Therapeutics by 91.2% in the fourth quarter. Bank of New York Mellon Corp now owns 55,827 shares of the company’s stock valued at $427,000 after buying an additional 26,633 shares in the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in shares of LogicBio Therapeutics during the fourth quarter worth about $174,000. 33.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LOGC opened at $5.64 on Wednesday. The stock has a 50-day moving average of $7.33 and a two-hundred day moving average of $7.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 6.21 and a current ratio of 6.21. The stock has a market cap of $180.63 million, a P/E ratio of -3.52 and a beta of 1.34. LogicBio Therapeutics, Inc. has a one year low of $5.00 and a one year high of $10.00.

LogicBio Therapeutics (NASDAQ:LOGC) last announced its quarterly earnings results on Sunday, March 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.10. The company had revenue of $0.54 million during the quarter. Analysts predict that LogicBio Therapeutics, Inc. will post -1.51 EPS for the current fiscal year.

Several research firms recently weighed in on LOGC. JMP Securities assumed coverage on shares of LogicBio Therapeutics in a report on Wednesday, March 10th. They set an “outperform” rating and a $17.00 price target on the stock. William Blair reaffirmed a “buy” rating on shares of LogicBio Therapeutics in a report on Monday, March 1st. Finally, Zacks Investment Research raised shares of LogicBio Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 26th.

In other LogicBio Therapeutics news, insider Frederic Chereau sold 7,542 shares of the business’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $5.73, for a total transaction of $43,215.66. Following the completion of the sale, the insider now directly owns 261,353 shares in the company, valued at approximately $1,497,552.69. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 23.40% of the company’s stock.

LogicBio Therapeutics 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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Institutional Ownership by Quarter for LogicBio Therapeutics (NASDAQ:LOGC)

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