LogicBio Therapeutics (OTCMKTS:LOGC) Shares Down 3.2% – What’s Next?

LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) shares traded down 3.2% during trading on Monday . The company traded as low as $9.01 and last traded at $9.02. Approximately 157,004 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 120,087 shares. The stock had previously closed at $9.32.

Analysts Set New Price Targets

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

LogicBio Therapeutics Price Performance

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 has a 50-day moving average price of $8.88 and a 200 day moving average price of $8.25. The stock has a market capitalization of $412.48 million, a price-to-earnings ratio of -8.28 and a beta of 2.09.

Institutional Investors Weigh In On LogicBio Therapeutics

An institutional investor recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. increased its stake in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC) by 284.9% in the 1st quarter, according to the company in its most recent filing with the SEC. 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 approximately 2.00% of LogicBio Therapeutics worth $3,676,000 at the end of the most recent reporting period. 46.05% of the stock is owned by institutional investors.

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.