LogicBio Therapeutics (OTCMKTS:LOGC) Sets New 52-Week High – Time to Buy?

Shares of 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. The stock had previously closed at $12.95.

LogicBio Therapeutics Stock Up 0.4%

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

LogicBio Therapeutics (OTCMKTS:LOGC) last announced its quarterly earnings data 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 company had revenue of $33.60 million during the quarter, compared to analyst estimates of $33.60 million.

Institutional Investors Weigh In On LogicBio Therapeutics

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. lifted its position in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC. 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.