Assembly Biosciences (NASDAQ:ASMB) Shares Pass Above 200-Day Moving Average – Time to Sell?

Assembly Biosciences, Inc. (NASDAQ:ASMB) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.95 and traded as high as $18.22. Assembly Biosciences shares last traded at $16.59, with a volume of 46,957 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HC Wainwright reiterated a “neutral” rating on shares of Assembly Biosciences in a report on Tuesday, September 24th. Jefferies Financial Group upgraded Assembly Biosciences from a “hold” rating to a “buy” rating and increased their price objective for the stock from $2.00 to $35.00 in a report on Friday, September 20th.

Assembly Biosciences Trading Down 9.0 %

The company has a fifty day moving average of $16.22 and a 200-day moving average of $14.95.

Assembly Biosciences (NASDAQ:ASMB) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.98) EPS for the quarter, topping the consensus estimate of ($2.96) by $0.98. The business had revenue of $8.53 million for the quarter, compared to analyst estimates of $5.96 million. As a group, analysts predict that Assembly Biosciences, Inc. will post -7.82 EPS for the current year.

Insiders Place Their Bets

In other Assembly Biosciences news, major shareholder Alexander Schornstein bought 10,000 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $14.58 per share, with a total value of $145,800.00. Following the completion of the transaction, the insider now directly owns 703,113 shares of the company’s stock, valued at $10,251,387.54. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Assembly Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in shares of Assembly Biosciences by 131.0% in the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 7,690 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Assembly Biosciences by 39.2% in the second quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock valued at $753,000 after purchasing an additional 15,451 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Assembly Biosciences in the second quarter valued at about $6,421,000. 19.92% of the stock is owned by institutional investors and hedge funds.

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.