LogicBio Therapeutics (OTCMKTS:LOGC) Trading 5.5% Higher – Should You Buy?

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) were up 5.5% during trading on Thursday . The stock traded as high as $14.99 and last traded at $14.51. 35,183 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 135,255 shares. The stock had previously closed at $13.75.

LogicBio Therapeutics Price Performance

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 company’s fifty day moving average is $10.77 and its two-hundred day moving average is $9.35. The stock has a market cap of $660.81 million, a price-to-earnings ratio of -19.79 and a beta of 2.11.

LogicBio Therapeutics (OTCMKTS:LOGC) last released its quarterly 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 business had revenue of $33.60 million during the quarter, compared to the consensus estimate of $33.60 million.

Hedge Funds Weigh In On LogicBio Therapeutics

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. raised its position in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the 1st quarter, according to the company in 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 acquiring an additional 389,843 shares during the quarter. Goldman Sachs Group Inc. owned approximately 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.