LogicBio Therapeutics (OTCMKTS:LOGC) Shares Gap Down – Here’s What Happened

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) gapped down prior to trading on Wednesday . The stock had previously closed at $11.30, but opened at $10.96. LogicBio Therapeutics shares last traded at $11.30, with a volume of 8,552 shares trading hands.

LogicBio Therapeutics Stock Performance

The company has a market cap of $531.84 million, a price-to-earnings ratio of -15.93 and a beta of 2.02. The firm’s 50 day simple moving average is $9.50 and its 200-day simple moving average is $8.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 1.87.

LogicBio Therapeutics (OTCMKTS:LOGC) last issued its earnings results on Thursday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.10). The firm 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. grew its holdings in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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. 46.05% of the stock is owned by institutional investors and hedge funds.

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.