LogicBio Therapeutics (OTCMKTS:LOGC) Stock Price Up 5.5% – Should You Buy?

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

LogicBio Therapeutics Stock Up 2.9%

The company has a market cap of $647.08 million, a price-to-earnings ratio of -19.38 and a beta of 2.11. The business has a fifty day moving average of $10.56 and a two-hundred day moving average of $9.27. The company has a current ratio of 1.87, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29.

LogicBio Therapeutics (OTCMKTS:LOGC) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.14) 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 analyst estimates of $33.60 million.

Institutional Investors Weigh In On LogicBio Therapeutics

An institutional investor recently raised its stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. boosted its stake in shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 526,673 shares of the company’s stock after acquiring an additional 389,843 shares during the period. 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 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.