LogicBio Therapeutics (OTCMKTS:LOGC) Issues Earnings Results

LogicBio Therapeutics (OTCMKTS:LOGC) announced its earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.10), Zacks reports.

LogicBio Therapeutics Stock Performance

OTCMKTS:LOGC remained flat at $10.50 during mid-day trading on Thursday. 127,031 shares of the company were exchanged, compared to its average volume of 139,952. The firm’s fifty day moving average price is $9.36 and its 200 day moving average price is $8.66. LogicBio Therapeutics has a 1 year low of $7.05 and a 1 year high of $10.61. The stock has a market cap of $480.17 million, a price-to-earnings ratio of -9.63 and a beta of 2.02. The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On LogicBio Therapeutics

A hedge fund recently raised its stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. raised 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 13F filing with the SEC. 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 about 2.00% of LogicBio Therapeutics worth $3,676,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 46.05% of the company’s stock.

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.