LogicBio Therapeutics (OTCMKTS:LOGC) Hits New 52-Week High – Should You Buy?

by · The Markets Daily

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC – Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $11.75 and last traded at $11.5235, with a volume of 74263 shares. The stock had previously closed at $11.25.

LogicBio Therapeutics Stock Performance

The company’s fifty day simple moving average is $9.53 and its two-hundred day simple moving average is $8.77. 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 stock has a market capitalization of $523.15 million, a P/E ratio of -15.67 and a beta of 2.02.

LogicBio Therapeutics (OTCMKTS:LOGC – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share 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 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. increased its holdings in shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC – Free Report) by 284.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 526,673 shares of the company’s stock after acquiring 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 filing with the SEC. Institutional investors own 46.05% of the company’s stock.

About LogicBio Therapeutics

(Get Free Report)

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.

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