Short Interest in LogicBio Therapeutics, Inc. (NASDAQ:LOGC) Decreases By 60.9%

LogicBio Therapeutics, Inc. (NASDAQ:LOGCGet Rating) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 50,000 shares, a decline of 60.9% from the April 15th total of 127,800 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,230,000 shares, the days-to-cover ratio is presently 0.0 days.

LOGC has been the topic of a number of research analyst reports. Chardan Capital dropped their price objective on shares of LogicBio Therapeutics from $16.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, February 2nd. Zacks Investment Research lowered shares of LogicBio Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, William Blair raised shares of LogicBio Therapeutics from a “market perform” rating to an “outperform” rating in a report on Monday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $9.15.

NASDAQ LOGC traded up $0.05 on Friday, reaching $0.43. 768,016 shares of the company’s stock traded hands, compared to its average volume of 3,618,656. The firm has a market cap of $14.17 million, a price-to-earnings ratio of -0.35 and a beta of 1.51. The stock has a 50 day moving average price of $0.63 and a 200-day moving average price of $1.64. LogicBio Therapeutics has a fifty-two week low of $0.34 and a fifty-two week high of $5.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.84 and a current ratio of 2.84.

LogicBio Therapeutics (NASDAQ:LOGCGet Rating) last posted its earnings results on Friday, March 4th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The company had revenue of $2.03 million during the quarter, compared to the consensus estimate of $2.00 million. LogicBio Therapeutics had a negative net margin of 739.91% and a negative return on equity of 95.00%. As a group, equities research analysts anticipate that LogicBio Therapeutics will post -1.11 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Independence Bank of Kentucky acquired a new position in shares of LogicBio Therapeutics in the fourth quarter worth about $30,000. Acadian Asset Management LLC acquired a new position in shares of LogicBio Therapeutics in the first quarter worth about $32,000. Virtu Financial LLC acquired a new position in shares of LogicBio Therapeutics during the 4th quarter worth about $40,000. Citadel Advisors LLC raised its position in shares of LogicBio Therapeutics by 270.6% during the 4th quarter. Citadel Advisors LLC now owns 18,600 shares of the company’s stock worth $43,000 after purchasing an additional 29,500 shares during the last quarter. Finally, Blair William & Co. IL acquired a new position in shares of LogicBio Therapeutics during the 4th quarter worth about $51,000. Institutional investors own 55.20% of the company’s stock.

About LogicBio Therapeutics (Get Rating)

LogicBio Therapeutics, Inc, a genetic medicine company, focuses on developing and commercializing genome editing and gene therapy treatments using its GeneRide and sAAVy platforms. The company's GeneRide technology is a new approach to precise gene insertion harnessing a cell's natural deoxyribonucleic acid; and gene delivery platform, sAAVy is an adeno-associated virus, which is designed to optimize gene delivery for treatments in a range of indications and tissues.

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