Assembly Biosciences (NASDAQ:ASMB) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why
Assembly Biosciences (NASDAQ:ASMB) stock price crossed above its 200-day moving average, trading as high as $39.65. Analysts have given mixed ratings, with a consensus target price of $41.00. The company reported a quarterly EPS of ($0.72), missing estimates. Institutional investors have made significant changes to their positions in ASMB. The company develops therapeutic candidates for viral diseases, including herpes and hepatitis delta virus.
Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.58 and traded as high as $39.65. Assembly Biosciences shares last traded at $37.93, with a volume of 79,466 shares traded.
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Analyst Ratings Changes
Several equities analysts have commented on the stock. Citigroup began coverage on shares of Assembly Biosciences in a research report on Wednesday, September 24th. They set an "outperform" rating on the stock. Guggenheim raised their price objective on Assembly Biosciences from $31.00 to $39.00 and gave the company a "buy" rating in a research note on Monday, September 8th. HC Wainwright restated a "buy" rating and issued a $50.00 target price on shares of Assembly Biosciences in a report on Tuesday, October 14th. Citizens Jmp began coverage on Assembly Biosciences in a report on Wednesday, September 24th. They set an "outperform" rating and a $38.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Assembly Biosciences in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.00.
Read Our Latest Stock Analysis on Assembly Biosciences
Assembly Biosciences Stock Performance
The stock has a market cap of $599.94 million, a P/E ratio of -6.80 and a beta of 0.60. The firm has a 50 day moving average of $29.15 and a two-hundred day moving average of $22.58.
Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.22). Assembly Biosciences had a negative return on equity of 149.01% and a negative net margin of 117.20%.The business had revenue of $10.79 million for the quarter, compared to analyst estimates of $7.46 million. On average, sell-side analysts anticipate that Assembly Biosciences, Inc. will post -6.87 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ASMB. Farallon Capital Management LLC bought a new stake in shares of Assembly Biosciences in the third quarter valued at about $31,426,000. RA Capital Management L.P. bought a new position in Assembly Biosciences during the third quarter valued at about $26,122,000. Commodore Capital LP acquired a new position in Assembly Biosciences in the 3rd quarter valued at approximately $25,600,000. Vanguard Group Inc. lifted its position in shares of Assembly Biosciences by 97.8% in the 3rd quarter. Vanguard Group Inc. now owns 502,112 shares of the biopharmaceutical company's stock worth $12,854,000 after acquiring an additional 248,287 shares during the period. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of Assembly Biosciences in the 3rd quarter worth approximately $6,425,000. Institutional investors own 19.92% of the company's stock.
Assembly Biosciences Company Profile
(Get Free Report)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.
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