LogicBio Therapeutics (OTCMKTS:LOGC) Hits New 52-Week High – Should You Buy?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC)’s stock price reached a new 52-week high on Thursday . The company traded as high as $11.75 and last traded at $11.5235, with a volume of 74263 shares changing hands. The stock had previously closed at $11.25.

LogicBio Therapeutics Stock Up 1.7%

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.87 and a quick ratio of 1.24. The company has a market cap of $523.15 million, a P/E ratio of -15.67 and a beta of 2.02. The stock has a 50-day moving average of $9.53 and a 200 day moving average of $8.77.

LogicBio Therapeutics (OTCMKTS:LOGC) last posted 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 company had revenue of $33.60 million for the quarter, compared to analyst estimates of $33.60 million.

Institutional Trading of LogicBio Therapeutics

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. increased its position in shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 2.00% of LogicBio Therapeutics worth $3,676,000 as of its most recent filing with the Securities and Exchange Commission. 46.05% of the stock is currently owned by institutional investors and hedge funds.

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.