LogicBio Therapeutics (OTCMKTS:LOGC) Trading Up 5.2% – Here’s What Happened

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) shares rose 5.2% on Monday . The stock traded as high as $11.93 and last traded at $11.93. Approximately 25,154 shares changed hands during trading, a decline of 82% from the average session volume of 139,504 shares. The stock had previously closed at $11.34.

LogicBio Therapeutics Trading Up 2.6%

The firm’s fifty day simple moving average is $9.59 and its 200 day simple moving average is $8.82. The stock has a market capitalization of $532.30 million, a P/E ratio of -15.95 and a beta of 2.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 1.87.

LogicBio Therapeutics (OTCMKTS:LOGC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.10). The firm had revenue of $33.60 million for the quarter, compared to the consensus estimate of $33.60 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 first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 526,673 shares of the company’s stock after buying 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 SEC. Institutional investors own 46.05% of the company’s stock.

About LogicBio Therapeutics

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.