LogicBio Therapeutics (OTCMKTS:LOGC) Hits New 1-Year High – Time to Buy?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) 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 traded. The stock had previously closed at $11.25.

LogicBio Therapeutics Trading Down 1.8%

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.87 and a quick ratio of 1.24. The company has a market capitalization of $518.58 million, a price-to-earnings ratio of -15.53 and a beta of 2.02. The business has a fifty day moving average price of $9.59 and a 200 day moving average price of $8.81.

LogicBio Therapeutics (OTCMKTS:LOGC) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.10). The firm had revenue of $33.60 million for the quarter, compared to analyst estimates of $33.60 million.

Institutional Trading of LogicBio Therapeutics

An institutional investor 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 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 526,673 shares of the company’s stock after purchasing an additional 389,843 shares during the quarter. Goldman Sachs Group Inc. owned 2.00% of LogicBio Therapeutics worth $3,676,000 as of its most recent filing with the SEC. Hedge funds and other 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.