Assembly Biosciences (NASDAQ:ASMB) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Assembly Biosciences shares surpassed their 200-day moving average, trading as high as $19.43 before closing at $19.40.
• The company reported a loss of ($1.17) EPS for the recent quarter, exceeding analyst expectations and achieving revenues of $9.42 million.
• Institutional investors hold 19.92% of the stock, with notable investments from Gilead Sciences and Renaissance Technologies during the last quarter.

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.78 and traded as high as $19.43. Assembly Biosciences shares last traded at $19.40, with a volume of 52,476 shares traded.

Assembly Biosciences Price Performance

The stock has a market cap of $179.65 million, a P/E ratio of -4.22 and a beta of 0.64. The stock's 50-day moving average is $17.79 and its two-hundred day moving average is $13.93.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.73) by $0.40. The business had revenue of $9.63 million during the quarter, compared to the consensus estimate of $5.30 million. Assembly Biosciences had a negative net margin of 117.20% and a negative return on equity of 135.14%. On average, analysts anticipate that Assembly Biosciences, Inc. will post -6.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Assembly Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Palumbo Wealth Management LLC increased its holdings in shares of Assembly Biosciences by 3.8% in the 2nd quarter. Palumbo Wealth Management LLC now owns 18,667 shares of the biopharmaceutical company's stock worth $338,000 after buying an additional 681 shares during the last quarter. Marshall Wace LLP grew its position in Assembly Biosciences by 16.5% in the fourth quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company's stock worth $234,000 after acquiring an additional 2,098 shares in the last quarter. Geode Capital Management LLC grew its position in Assembly Biosciences by 6.9% in the second quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company's stock worth $925,000 after acquiring an additional 3,312 shares in the last quarter. Acadian Asset Management LLC increased its stake in Assembly Biosciences by 42.1% during the first quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company's stock worth $219,000 after acquiring an additional 6,823 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Assembly Biosciences by 225.6% during the fourth quarter. JPMorgan Chase & Co. now owns 11,427 shares of the biopharmaceutical company's stock valued at $180,000 after purchasing an additional 7,918 shares during the period. Hedge funds and other 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.