LogicBio Therapeutics (OTCMKTS:LOGC) Trading 5.2% Higher – Here’s Why

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

LogicBio Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 1.87. The business has a fifty day moving average of $9.59 and a two-hundred day moving average of $8.82. The firm has a market capitalization of $532.30 million, a price-to-earnings ratio of -15.95 and a beta of 2.02.

LogicBio Therapeutics (OTCMKTS:LOGC) last issued 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 firm had revenue of $33.60 million for the quarter, compared to the consensus estimate of $33.60 million.

Institutional Investors Weigh In On LogicBio Therapeutics

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. boosted its holdings in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the 1st quarter, according to 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 2.00% of LogicBio Therapeutics worth $3,676,000 at the end of the most recent reporting period. Hedge funds and other 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.