LogicBio Therapeutics (OTCMKTS:LOGC) Shares Down 3.2% – Here’s Why

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) fell 3.2% during trading on Monday . The company traded as low as $9.01 and last traded at $9.02. Approximately 157,004 shares were traded during trading, an increase of 31% from the average session volume of 120,087 shares. The stock had previously closed at $9.32.

Analyst Upgrades and Downgrades

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

LogicBio Therapeutics Price Performance

The stock’s 50-day moving average price is $8.88 and its 200 day moving average price is $8.25. 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 firm has a market capitalization of $412.48 million, a price-to-earnings ratio of -8.28 and a beta of 2.09.

Institutional Investors Weigh In On LogicBio Therapeutics

A hedge fund recently raised its stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. increased its stake in shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 526,673 shares of the company’s stock after buying an additional 389,843 shares during the quarter. 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.