LogicBio Therapeutics (OTCMKTS:LOGC) Trading Down 0.7% – Here’s Why

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC)’s stock price dropped 0.7% during trading on Monday . The company traded as low as $8.99 and last traded at $8.99. Approximately 20,183 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 123,435 shares. The stock had previously closed at $9.05.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded LogicBio Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th.

LogicBio Therapeutics Price Performance

The stock’s fifty day moving average price is $8.99 and its 200-day moving average price is $8.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.67 and a quick ratio of 1.15. The firm has a market cap of $411.11 million, a price-to-earnings ratio of -8.25 and a beta of 2.01.

Hedge Funds Weigh In On LogicBio Therapeutics

A hedge fund recently raised its stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. increased its position in shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 526,673 shares of the company’s stock after buying an additional 389,843 shares during the period. Goldman Sachs Group Inc. owned 2.00% of LogicBio Therapeutics worth $3,676,000 at the end of the most recent reporting period. 46.05% of the stock is owned by institutional investors and hedge funds.

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.