Assembly Biosciences (NASDAQ:ASMB) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.16 and traded as high as $17.09. Assembly Biosciences shares last traded at $16.65, with a volume of 17,780 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Assembly Biosciences from a “hold” rating to a “buy” rating and upped their target price for the company from $2.00 to $35.00 in a research note on Friday, September 20th. HC Wainwright restated a “neutral” rating on shares of Assembly Biosciences in a research note on Tuesday, September 24th.

Assembly Biosciences Stock Up 0.5 %

The business’s fifty day simple moving average is $16.68 and its 200 day simple moving average is $15.16.

Assembly Biosciences (NASDAQ:ASMB) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.96) by $0.98. The business had revenue of $8.53 million for the quarter, compared to the consensus estimate of $5.96 million. Equities analysts forecast that Assembly Biosciences, Inc. will post -7.82 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Alexander Schornstein acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average cost of $14.58 per share, for a total transaction of $145,800.00. Following the transaction, the insider now directly owns 703,113 shares in the company, valued at $10,251,387.54. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Assembly Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC grew its stake in shares of Assembly Biosciences by 131.0% in the 2nd quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 7,690 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Assembly Biosciences by 39.2% during the second quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock worth $753,000 after buying an additional 15,451 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in shares of Assembly Biosciences in the second quarter valued at $6,421,000. 19.92% of the stock is currently owned by institutional investors.

Assembly Biosciences Company Profile

Assembly Biosciences, Inc, a biotechnology company, develops therapeutic candidates for the treatment of viral diseases. It develops ABI-5366, a long-acting herpes simplex virus (HSV) helicase-primase inhibitor that is in Phase 1a/1b clinical trial to treat recurrent genital herpes; ABI-1179, which is in Phase 1a/1b clinical trial for the treatment of recurrent genital herpes; and ABI-6250, a small molecule orally bioavailable hepatitis delta virus entry inhibitor that is in Phase 1a clinical trial.