LogicBio Therapeutics (OTCMKTS:LOGC) Shares Gap Down – Here’s What Happened

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) gapped down before the market opened 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 2.9%

The business has a 50-day moving average price of $9.50 and a 200-day moving average price of $8.75. The stock has a market cap of $531.84 million, a PE ratio of -15.93 and a beta of 2.02. The company has a current ratio of 1.87, a quick ratio of 1.24 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) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.10). The company had revenue of $33.60 million for the quarter, compared to the consensus estimate of $33.60 million.

Institutional Inflows and Outflows

A hedge fund recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. boosted its stake in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 approximately 2.00% of LogicBio Therapeutics worth $3,676,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.