LogicBio Therapeutics (OTCMKTS:LOGC) Reaches New 12-Month High – Still a Buy?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.16 and last traded at $11.95, with a volume of 56558 shares. The stock had previously closed at $11.85.

LogicBio Therapeutics Price Performance

The firm has a market cap of $577.11 million, a PE ratio of -17.29 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 firm has a 50-day simple moving average of $9.81 and a 200 day simple moving average of $8.94.

LogicBio Therapeutics (OTCMKTS:LOGC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.10). The company had revenue of $33.60 million for the quarter, compared to the consensus estimate 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% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 526,673 shares of the company’s stock after buying an additional 389,843 shares during the quarter. 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 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.