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

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) gapped down prior to trading on Wednesday . The stock had previously closed at $11.30, but opened at $10.96. LogicBio Therapeutics shares last traded at $11.30, with a volume of 8,552 shares traded.

LogicBio Therapeutics Stock Up 2.7%

The firm has a market cap of $528.18 million, a price-to-earnings ratio of -15.82 and a beta of 2.02. The firm has a 50 day moving average of $9.57 and a 200 day moving average of $8.80. The company has a quick ratio of 1.24, a current ratio of 1.87 and a debt-to-equity ratio of 0.29.

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 the consensus estimate of ($0.04) by ($0.10). The business had revenue of $33.60 million during the quarter, compared to analysts’ expectations of $33.60 million.

Institutional Inflows and Outflows

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. grew 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 Form 13F filing 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 quarter. Goldman Sachs Group Inc. owned about 2.00% of LogicBio Therapeutics worth $3,676,000 as of its most recent filing with the Securities & Exchange Commission. 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.