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

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.42 and traded as high as $32.68. Assembly Biosciences shares last traded at $31.21, with a volume of 84,163 shares trading hands.

Analysts Set New Price Targets

ASMB has been the topic of a number of recent analyst reports. Guggenheim boosted their price target on shares of Assembly Biosciences from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 8th. JMP Securities began coverage on Assembly Biosciences in a report on Wednesday, September 24th. They issued a “market outperform” rating and a $38.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Assembly Biosciences in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assembly Biosciences in a research report on Wednesday, October 8th. Finally, Citigroup started coverage on Assembly Biosciences in a research note on Wednesday, September 24th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Assembly Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Assembly Biosciences Stock Performance

The firm’s 50-day moving average is $26.30 and its two-hundred day moving average is $20.64. The stock has a market cap of $239.37 million, a P/E ratio of -5.59 and a beta of 0.60.

Assembly Biosciences (NASDAQ:ASMB) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.73) by $0.40. Assembly Biosciences had a negative return on equity of 149.01% and a negative net margin of 117.20%.The company had revenue of $9.63 million during the quarter, compared to analysts’ expectations of $5.30 million. As a group, research analysts forecast that Assembly Biosciences, Inc. will post -6.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Assembly Biosciences by 97.8% during the third quarter. Vanguard Group Inc. now owns 502,112 shares of the biopharmaceutical company’s stock worth $12,854,000 after buying an additional 248,287 shares during the last quarter. Ellsworth Advisors LLC acquired a new stake in Assembly Biosciences during the 3rd quarter worth $852,000. Geode Capital Management LLC raised its position in shares of Assembly Biosciences by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company’s stock valued at $925,000 after acquiring an additional 3,312 shares during the last quarter. Palumbo Wealth Management LLC raised its position in shares of Assembly Biosciences by 3.8% during the 2nd quarter. Palumbo Wealth Management LLC now owns 18,667 shares of the biopharmaceutical company’s stock valued at $338,000 after acquiring an additional 681 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Assembly Biosciences by 42.1% in the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 6,823 shares during the period. Institutional investors own 19.92% of the company’s stock.

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.