Assembly Biosciences (NASDAQ:ASMB) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Assembly Biosciences' shares have surpassed the 200-day moving average, trading at $23.70 after hitting a high of $24.94.
• Wall Street analysts have given the stock a consensus rating of "Moderate Buy" with a target price of $41.25, with multiple firms starting coverage and setting price objectives as high as $50.00.
• The company reported a revenue of $9.63 million for the last quarter, significantly exceeding analyst estimates, but posted an EPS of ($1.33).

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.10 and traded as high as $24.94. Assembly Biosciences shares last traded at $23.70, with a volume of 93,154 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ASMB shares. HC Wainwright started coverage on Assembly Biosciences in a report on Monday, August 18th. They issued a "buy" rating and a $50.00 price objective on the stock. Guggenheim raised their target price on Assembly Biosciences from $31.00 to $39.00 and gave the stock a "buy" rating in a report on Monday, September 8th. JMP Securities began coverage on Assembly Biosciences in a report on Wednesday, September 24th. They set a "market outperform" rating and a $38.00 target price on the stock. Citigroup began coverage on Assembly Biosciences in a report on Wednesday, September 24th. They set an "outperform" rating on the stock. Finally, Citizens Jmp began coverage on Assembly Biosciences in a report on Wednesday, September 24th. They set an "outperform" rating and a $38.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.25.

Assembly Biosciences Stock Down 3.7%

The stock has a market cap of $181.83 million, a PE ratio of -4.25 and a beta of 0.60. The stock has a 50-day moving average of $23.25 and a 200 day moving average of $17.10.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $9.63 million for the quarter, compared to the consensus estimate of $5.30 million. Research analysts forecast that Assembly Biosciences, Inc. will post -6.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Assembly Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. acquired a new stake in Assembly Biosciences during the first quarter worth $113,000. Palumbo Wealth Management LLC increased its stake in Assembly Biosciences by 57.4% during the first quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company's stock worth $172,000 after acquiring an additional 6,559 shares during the last quarter. Geode Capital Management LLC increased its stake in Assembly Biosciences by 6.9% during 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 during the last quarter. Finally, 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. Institutional investors and hedge funds own 19.92% of the company's stock.

About Assembly Biosciences

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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