LogicBio Therapeutics (OTCMKTS:LOGC) Shares Down 3.2% – Should You Sell?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) shares dropped 3.2% on Monday . The stock traded as low as $9.01 and last traded at $9.02. Approximately 157,004 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 120,087 shares. The stock had previously closed at $9.32.

Analyst Ratings Changes

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

LogicBio Therapeutics Trading Down 6.0%

The stock has a market capitalization of $393.29 million, a P/E ratio of -7.89 and a beta of 2.09. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $8.90 and a 200 day moving average price of $8.26.

Hedge Funds Weigh In On LogicBio Therapeutics

An institutional investor recently raised its stake in LogicBio Therapeutics stock. Goldman Sachs Group Inc. raised its position in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 526,673 shares of the company’s stock after acquiring 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 filing with the Securities & Exchange Commission. 46.05% of the stock is owned by institutional investors and hedge funds.

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.