LogicBio Therapeutics (OTCMKTS:LOGC) Hits New 1-Year High – What’s Next?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $11.00 and last traded at $10.95, with a volume of 47314 shares. The stock had previously closed at $10.55.

LogicBio Therapeutics Stock Up 4.4%

The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average price is $9.39 and its 200 day moving average price is $8.68. The stock has a market cap of $503.49 million, a P/E ratio of -10.10 and a beta of 2.02.

LogicBio Therapeutics (OTCMKTS:LOGC) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share (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 analysts’ expectations of $22.48 million.

Hedge Funds Weigh In On LogicBio Therapeutics

An institutional investor recently raised its stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. raised its holdings in 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 quarter. 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.