LogicBio Therapeutics Inc (NASDAQ:LOGC) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 130,100 shares, a growth of 12.6% from the July 31st total of 115,500 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 18,500 shares, the short-interest ratio is currently 7.0 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new position in LogicBio Therapeutics in the 4th quarter valued at $115,000. Stanley Laman Group Ltd. bought a new position in LogicBio Therapeutics in the 2nd quarter valued at $254,000. Charles Schwab Investment Management Inc. grew its position in LogicBio Therapeutics by 9.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 22,484 shares of the company’s stock valued at $293,000 after acquiring an additional 1,969 shares during the last quarter. Vanguard Group Inc. grew its position in LogicBio Therapeutics by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 277,859 shares of the company’s stock valued at $3,612,000 after acquiring an additional 7,588 shares during the last quarter. Finally, BlackRock Inc. grew its position in LogicBio Therapeutics by 23.2% in the 2nd quarter. BlackRock Inc. now owns 451,723 shares of the company’s stock valued at $5,873,000 after acquiring an additional 85,079 shares during the last quarter. 56.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ LOGC traded up $0.44 during trading hours on Friday, hitting $11.78. 791 shares of the company traded hands, compared to its average volume of 27,410. The stock has a market capitalization of $250.81 million and a price-to-earnings ratio of -3.97. The company’s 50 day moving average price is $10.23 and its 200 day moving average price is $11.84. LogicBio Therapeutics has a 12 month low of $6.34 and a 12 month high of $20.07.
LogicBio Therapeutics (NASDAQ:LOGC) last released its earnings results on Tuesday, August 13th. The company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.04). Sell-side analysts forecast that LogicBio Therapeutics will post -1.73 EPS for the current fiscal year.
Several analysts have recently issued reports on LOGC shares. Zacks Investment Research raised LogicBio Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of LogicBio Therapeutics in a report on Thursday, August 15th. Finally, ValuEngine raised LogicBio Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $24.00.
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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