LogicBio Therapeutics (OTCMKTS:LOGC) Shares Gap Down on Disappointing Earnings

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $15.15, but opened at $14.00. LogicBio Therapeutics shares last traded at $14.29, with a volume of 2,965 shares trading hands.

The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.25). The business had revenue of $32.20 million for the quarter, compared to analyst estimates of $23.31 million.

LogicBio Therapeutics Price Performance

The firm has a market cap of $657.37 million, a PE ratio of -19.69 and a beta of 2.11. The firm has a fifty day simple moving average of $14.79 and a two-hundred day simple moving average of $10.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 1.87.

LogicBio Therapeutics Company Profile

LogicBio Therapeutics, Inc was a clinical-stage genetic medicine company focused on developing therapies for patients with serious genetic and metabolic diseases. The company’s research centered on genetic medicine technologies designed to address the underlying causes of disease rather than treat symptoms alone.

LogicBio’s principal platform, GeneRide, was developed to enable the targeted insertion of therapeutic genes into the genome. The company also pursued GeneWare, a platform intended to support gene-editing applications.