Goldman Sachs Group Inc. boosted its position in shares of LogicBio Therapeutics, Inc. (NASDAQ:LOGC) by 59.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,030 shares of the company’s stock after purchasing an additional 20,423 shares during the period. Goldman Sachs Group Inc. owned approximately 0.17% of LogicBio Therapeutics worth $244,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOGC. Texas Yale Capital Corp. grew its holdings in LogicBio Therapeutics by 100.0% during the 2nd quarter. Texas Yale Capital Corp. now owns 20,000 shares of the company’s stock valued at $89,000 after purchasing an additional 10,000 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in LogicBio Therapeutics during the 1st quarter valued at $94,000. Dimensional Fund Advisors LP acquired a new stake in LogicBio Therapeutics during the 2nd quarter valued at $125,000. Susquehanna International Group LLP acquired a new position in LogicBio Therapeutics during the 2nd quarter worth $126,000. Finally, Marshall Wace LLP acquired a new position in LogicBio Therapeutics during the 2nd quarter worth $180,000. 48.89% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of LogicBio Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, November 18th. William Blair reissued an “outperform” rating on shares of LogicBio Therapeutics in a report on Monday, November 15th. Barclays decreased their price objective on shares of LogicBio Therapeutics from $24.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, November 17th. Finally, JMP Securities decreased their price objective on shares of LogicBio Therapeutics from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Tuesday, November 16th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $12.80.
NASDAQ LOGC opened at $2.97 on Friday. LogicBio Therapeutics, Inc. has a one year low of $2.75 and a one year high of $9.74. The company has a 50-day simple moving average of $3.61 and a 200-day simple moving average of $4.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.43 and a current ratio of 4.43. The firm has a market capitalization of $97.88 million, a PE ratio of -2.58 and a beta of 1.05.
LogicBio Therapeutics (NASDAQ:LOGC) last posted its quarterly earnings results on Monday, November 15th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.01). The business had revenue of $2.12 million during the quarter, compared to analyst estimates of $5.02 million. LogicBio Therapeutics had a negative net margin of 964.74% and a negative return on equity of 76.02%. Equities analysts forecast that LogicBio Therapeutics, Inc. will post -1.27 earnings per share for the current year.
LogicBio Therapeutics Profile
LogicBio Therapeutics, Inc engages in the development of genome editing technology platform. It focuses on the commercialization of GeneRide, which enables the site-specific integration of a therapeutic transgene without nucleases or exogenous promoters by harnessing the native process of homologous recombination.
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