LogicBio Therapeutics Inc (NASDAQ:LOGC) Short Interest Up 12.6% in August

LogicBio Therapeutics Inc (NASDAQ:LOGC) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 130,100 shares, an increase of 12.6% from the July 31st total of 115,500 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 18,500 shares, the days-to-cover ratio is presently 7.0 days.

LogicBio Therapeutics stock traded up $0.44 during midday trading on Friday, reaching $11.78. The company’s stock had a trading volume of 791 shares, compared to its average volume of 27,410. The stock’s 50-day simple moving average is $10.23 and its 200-day simple moving average is $11.84. LogicBio Therapeutics has a 52-week low of $6.34 and a 52-week high of $20.07. The stock has a market capitalization of $250.81 million and a P/E ratio of -3.97.

LogicBio Therapeutics (NASDAQ:LOGC) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.04). Equities research analysts predict that LogicBio Therapeutics will post -1.73 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Board of Trustees of The Leland Stanford Junior University increased its holdings in shares of LogicBio Therapeutics by 4.4% in the second quarter. Board of Trustees of The Leland Stanford Junior University now owns 949,443 shares of the company’s stock valued at $12,343,000 after purchasing an additional 40,199 shares during the period. Deutsche Bank AG acquired a new position in shares of LogicBio Therapeutics in the fourth quarter valued at about $115,000. Vanguard Group Inc. increased its holdings in shares of LogicBio Therapeutics by 2.8% in the second quarter. Vanguard Group Inc. now owns 277,859 shares of the company’s stock valued at $3,612,000 after purchasing an additional 7,588 shares during the period. BlackRock Inc. increased its holdings in shares of LogicBio Therapeutics by 23.2% in the second quarter. BlackRock Inc. now owns 451,723 shares of the company’s stock valued at $5,873,000 after purchasing an additional 85,079 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of LogicBio Therapeutics by 9.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 22,484 shares of the company’s stock valued at $293,000 after purchasing an additional 1,969 shares during the period. 56.49% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on LOGC shares. Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of LogicBio Therapeutics in a research note on Thursday, August 15th. ValuEngine upgraded LogicBio Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded LogicBio Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.00.

LogicBio Therapeutics Company 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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