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

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) reached a new 52-week high during trading 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 Up 5.9%

The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $9.43 and a two-hundred day simple moving average of $8.69. The firm has a market capitalization of $510.80 million, a P/E ratio of -13.62 and a beta of 2.02.

LogicBio Therapeutics (OTCMKTS:LOGC) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.10). The firm had revenue of $33.60 million for the quarter, compared to analysts’ expectations of $33.60 million.

Hedge Funds Weigh In On LogicBio Therapeutics

An institutional investor recently raised its stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. boosted its stake in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 526,673 shares of the company’s stock after purchasing an additional 389,843 shares during the quarter. Goldman Sachs Group Inc. owned about 2.00% of LogicBio Therapeutics worth $3,676,000 as of its most recent SEC filing. 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.