LogicBio Therapeutics (OTCMKTS:LOGC) Sets New 12-Month High – Still a Buy?

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $13.2599 and last traded at $12.98, with a volume of 109606 shares. The stock had previously closed at $12.95.

LogicBio Therapeutics Stock Up 2.9%

The business’s fifty day moving average price is $10.56 and its two-hundred day moving average price is $9.27. The company has a current ratio of 1.87, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. The firm has a market cap of $647.08 million, a P/E ratio of -19.38 and a beta of 2.11.

LogicBio Therapeutics (OTCMKTS:LOGC) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $33.60 million.

Institutional Trading of LogicBio Therapeutics

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. boosted its position 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. The fund owned 526,673 shares of the company’s stock after buying an additional 389,843 shares during the quarter. Goldman Sachs Group Inc. owned approximately 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 institutional investors.

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.