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

Assembly Biosciences, Inc. (NASDAQ:ASMB)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.59 and traded as high as $16.26. Assembly Biosciences shares last traded at $15.21, with a volume of 30,654 shares changing hands.

Analyst Upgrades and Downgrades

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

Assembly Biosciences Stock Performance

The stock has a 50-day moving average price of $16.35 and a 200 day moving average price of $15.59.

Insider Activity

In other news, major shareholder Alexander Schornstein bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $14.58 per share, for a total transaction of $145,800.00. Following the completion of the transaction, the insider now directly owns 703,113 shares in the company, valued at $10,251,387.54. The trade was a 1.44 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 394 shares of company stock worth $5,894 over the last three months. 5.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in shares of Assembly Biosciences by 131.0% during the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 7,690 shares in the last quarter. FMR LLC lifted its position in Assembly Biosciences by 29.7% during the third quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 3,635 shares in the last quarter. Renaissance Technologies LLC boosted its stake 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 during the last quarter. Finally, Armistice Capital LLC purchased a new stake in Assembly Biosciences in the 2nd quarter valued at $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.