LogicBio Therapeutics (OTCMKTS:LOGC) Trading Down 0.7% – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

LogicBio Therapeutics Stock Performance

The company has a market cap of $411.11 million, a price-to-earnings ratio of -8.25 and a beta of 2.01. 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 stock’s 50 day moving average price is $8.99 and its 200 day moving average price is $8.37.

Institutional Investors Weigh In On LogicBio Therapeutics

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. raised its position in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the first quarter, according to the company in its most recent filing 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 46.05% of the company’s stock.

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.