LogicBio Therapeutics (OTCMKTS:LOGC) Shares Down 0.6% - Should You Sell?

Key Points

• Shares fell 0.6% to $8.26 intraday (low $7.98) on a 90% drop in trading volume versus average, with the stock trading around its 50‑day ($8.02) and 200‑day ($7.82) moving averages.
• Wall Street Zen downgraded LogicBio from a "hold" to a "sell" rating on March 29.
• Meanwhile, Goldman Sachs raised its position by 284.9% in Q1 to 526,673 shares (about 2% ownership), and institutions now hold roughly 46% of the company.

Shares of LogicBio Therapeutics, Inc. (OTCMKTS:LOGC - Get Free Report) fell 0.6% during mid-day trading on Thursday . The stock traded as low as $7.98 and last traded at $8.26. 7,831 shares were traded during mid-day trading, a decline of 90% from the average session volume of 74,876 shares. The stock had previously closed at $8.31.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded LogicBio Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, March 29th.

LogicBio Therapeutics Trading Down 0.6%

The company has a 50 day simple moving average of $8.02 and a 200 day simple moving average of $7.82. The stock has a market cap of $377.23 million, a P/E ratio of -7.58 and a beta of 2.11.

Institutional Inflows and Outflows

An institutional investor recently raised its position in LogicBio Therapeutics stock. Goldman Sachs Group Inc. raised its holdings in LogicBio Therapeutics, Inc. (OTCMKTS:LOGC - Free Report) by 284.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 526,673 shares of the company's stock after buying an additional 389,843 shares during the period. Goldman Sachs Group Inc. owned 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 hedge funds and other institutional investors.

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.

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