LogicBio Therapeutics (OTCMKTS:LOGC) Trading 5.2% Higher – Still a Buy?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC – Get Free Report) shares traded up 5.2% during mid-day trading on Monday . The company traded as high as $11.93 and last traded at $11.93. Approximately 25,154 shares changed hands during trading, a decline of 82% from the average daily volume of 139,504 shares. The stock had previously closed at $11.34.

LogicBio Therapeutics Stock Performance

The stock has a market capitalization of $546.47 million, a PE ratio of -16.37 and a beta of 2.02. 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 business’s fifty day moving average price is $9.68 and its 200-day moving average price is $8.88.

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LogicBio Therapeutics (OTCMKTS:LOGC – Get Free Report) last posted 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 company had revenue of $33.60 million during the quarter, compared to the consensus estimate of $33.60 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. lifted its holdings in shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC – Free Report) by 284.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 526,673 shares of the company’s stock after purchasing an additional 389,843 shares during the period. Goldman Sachs Group Inc. owned about 2.00% of LogicBio Therapeutics worth $3,676,000 as of its most recent filing with the SEC. 46.05% of the stock is owned by hedge funds and other institutional investors.

About LogicBio Therapeutics

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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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