LogicBio Therapeutics Inc. [LOGC] stock Initiated by H.C. Wainwright analyst, price target now $15


LogicBio Therapeutics Inc. [NASDAQ: LOGC] price plunged by -9.01 percent to reach at -$0.03. The company report on May 17, 2022 that LogicBio® Therapeutics to Present at H.C. Wainwright Global Investment Conference.

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LogicBio Therapeutics, Inc. (Nasdaq: LOGC), a clinical-stage genetic medicine company, today announced that president and chief executive officer, Frederic Chereau, will present a company overview at the H.C. Wainwright Global Investment Conference being held May 23-26, 2022. The pre-recorded presentation will be available for on-demand viewing beginning at 7:00 a.m. ET on Tuesday, May 24, 2022.

A webcast of the presentation will be made available on the Investors section of the company’s website at https://investor.logicbio.com/. The webcast replay will be available for approximately 30 days.

A sum of 483657 shares traded at recent session while its average daily volume was at 1.30M shares. LogicBio Therapeutics Inc. shares reached a high of $0.468 and dropped to a low of $0.3651 until finishing in the latest session at $0.38.

The one-year LOGC stock forecast points to a potential upside of 93.92. The average equity rating for LOGC stock is currently 1.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on LogicBio Therapeutics Inc. [LOGC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LOGC shares is $6.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LOGC stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for LogicBio Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 07, 2021. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on March 04, 2021, representing the official price target for LogicBio Therapeutics Inc. stock. Previously, the target price had yet another raise to $26, while ROTH Capital analysts kept a Buy rating on LOGC stock.

The Average True Range (ATR) for LogicBio Therapeutics Inc. is set at 0.07, with the Price to Sales ratio for LOGC stock in the period of the last 12 months amounting to 1.74. The Price to Book ratio for the last quarter was 0.50, with the Price to Cash per share for the same quarter was set at 1.18.

LOGC Stock Performance Analysis:

LogicBio Therapeutics Inc. [LOGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.31. With this latest performance, LOGC shares dropped by -9.82% in over the last four-week period, additionally sinking by -84.94% over the last 6 months – not to mention a drop of -90.70% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LOGC stock in for the last two-week period is set at 39.00, with the RSI for the last a single of trading hit 35.06, and the three-weeks RSI is set at 40.22 for LogicBio Therapeutics Inc. [LOGC]. The present Moving Average for the last 50 days of trading for this stock 0.5043, while it was recorded at 0.4153 for the last single week of trading, and 2.0282 for the last 200 days.

Insight into LogicBio Therapeutics Inc. Fundamentals:

LogicBio Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.70.

LogicBio Therapeutics Inc. [LOGC] Insider Position Details

There are presently around $5 million, or 44.10% of LOGC stock, in the hands of institutional investors. The top three institutional holders of LOGC stocks are: ORBIMED ADVISORS LLC with ownership of 8,466,783, which is approximately 0% of the company’s market cap and around 8.93% of the total institutional ownership; FRANKLIN RESOURCES INC, holding 913,576 shares of the stock with an approximate value of $0.34 million in LOGC stocks shares; and GOLDMAN SACHS GROUP INC, currently with $0.19 million in LOGC stock with ownership of nearly -0.056% of the company’s market capitalization.

Positions in LogicBio Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 10 institutional holders increased their position in LogicBio Therapeutics Inc. [NASDAQ:LOGC] by around 604,592 shares. Additionally, 28 investors decreased positions by around 3,887,469 shares, while 22 investors held positions by with 8,237,749 shares. The mentioned changes placed institutional holdings at 12,729,810 shares, according to the latest SEC report filing. LOGC stock had 4 new institutional investments in for a total of 529,514 shares, while 14 institutional investors sold positions of 2,582,359 shares during the same period.