LogicBio Therapeutics (OTCMKTS:LOGC) Reaches New 12-Month High – Should You Buy?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) hit a new 52-week high on Friday . The company traded as high as $11.00 and last traded at $10.95, with a volume of 47314 shares. The stock had previously closed at $10.55.

LogicBio Therapeutics Stock Performance

The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $9.39 and its two-hundred day moving average is $8.68. The firm has a market capitalization of $503.49 million, a price-to-earnings ratio of -10.10 and a beta of 2.02.

LogicBio Therapeutics (OTCMKTS:LOGC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.10). The business had revenue of $33.60 million for the quarter, compared to analyst estimates of $22.48 million.

Hedge Funds Weigh In On LogicBio Therapeutics

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. lifted its holdings in shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 526,673 shares of the company’s stock after acquiring an additional 389,843 shares during the period. Goldman Sachs Group Inc. owned approximately 2.00% of LogicBio Therapeutics worth $3,676,000 at the end of the most recent reporting period. 46.05% of the stock is currently owned by hedge funds and other institutional investors.

LogicBio Therapeutics Company Profile

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. Its lead product candidate is LB-001 that is in Phase I/II clinical trials for the treatment of methylmalonic acidemia.