LogicBio Therapeutics (OTCMKTS:LOGC) Trading Up 5.5% – What’s Next?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) shares rose 5.5% during mid-day trading on Thursday . The stock traded as high as $14.99 and last traded at $14.51. Approximately 35,183 shares changed hands during trading, a decline of 74% from the average daily volume of 135,255 shares. The stock had previously closed at $13.75.

LogicBio Therapeutics Stock Up 2.9%

The stock has a market capitalization of $647.08 million, a PE ratio of -19.38 and a beta of 2.11. The company has a current ratio of 1.87, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average is $10.56 and its 200 day moving average is $9.27.

LogicBio Therapeutics (OTCMKTS:LOGC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.10). The business 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 stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. lifted its stake in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 526,673 shares of the company’s stock after buying an additional 389,843 shares during the quarter. Goldman Sachs Group Inc. owned approximately 2.00% of LogicBio Therapeutics worth $3,676,000 as of its most recent SEC filing. 46.05% of the stock is 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.