LogicBio Therapeutics (OTCMKTS:LOGC) Hits New 12-Month High – What’s Next?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.2599 and last traded at $12.98, with a volume of 109606 shares trading hands. The stock had previously closed at $12.95.

LogicBio Therapeutics Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.87 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $594.49 million, a P/E ratio of -17.81 and a beta of 2.11. The company’s 50-day simple moving average is $10.37 and its 200 day simple moving average is $9.19.

LogicBio Therapeutics (OTCMKTS:LOGC) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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.

Hedge Funds Weigh In On LogicBio Therapeutics

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. grew its stake in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 526,673 shares of the company’s stock after buying an additional 389,843 shares during the period. Goldman Sachs Group Inc. owned approximately 2.00% of LogicBio Therapeutics worth $3,676,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.