LogicBio Therapeutics (OTCMKTS:LOGC) Stock Price Up 0.8% – What’s Next?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC)’s stock price shot up 0.8% on Monday . The stock traded as high as $9.15 and last traded at $9.05. 79,971 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 104,232 shares. The stock had previously closed at $8.98.

Analysts Set New Price Targets

Separately, Wall Street Zen cut LogicBio Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th.

LogicBio Therapeutics Trading Up 0.8%

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 business’s fifty day simple moving average is $8.50 and its two-hundred day simple moving average is $8.04. The company has a market cap of $413.86 million, a price-to-earnings ratio of -8.30 and a beta of 2.09.

Institutional Trading of LogicBio Therapeutics

An institutional investor recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. lifted its position in shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 526,673 shares of the company’s stock after purchasing an additional 389,843 shares during the period. Goldman Sachs Group Inc. owned about 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.