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

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.35 and traded as high as $14.70. Assembly Biosciences shares last traded at $13.59, with a volume of 11,691 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ASMB shares. Wall Street Zen downgraded Assembly Biosciences from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. HC Wainwright restated a "neutral" rating on shares of Assembly Biosciences in a research note on Monday, March 24th. Finally, Guggenheim started coverage on Assembly Biosciences in a research note on Tuesday, March 25th. They issued a "buy" rating and a $31.00 price target on the stock.

Assembly Biosciences Stock Performance

The firm has a market capitalization of $107.70 million, a P/E ratio of -2.26 and a beta of 0.49. The firm has a 50-day moving average of $11.12 and a 200-day moving average of $13.24.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.84. The business had revenue of $9.42 million for the quarter, compared to analysts' expectations of $7.41 million. Assembly Biosciences had a negative return on equity of 121.46% and a negative net margin of 144.05%. On average, research analysts forecast that Assembly Biosciences, Inc. will post -6.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Assembly Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Peapod Lane Capital LLC bought a new position in Assembly Biosciences in the 4th quarter valued at approximately $994,000. JPMorgan Chase & Co. lifted its holdings in shares of Assembly Biosciences by 5,137.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,509 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 3,442 shares during the period. Gilead Sciences Inc. bought a new position in shares of Assembly Biosciences during the 4th quarter valued at $34,865,000. Renaissance Technologies LLC lifted its holdings in shares of Assembly Biosciences by 44.3% during the 4th quarter. Renaissance Technologies LLC now owns 94,711 shares of the biopharmaceutical company's stock valued at $1,495,000 after buying an additional 29,087 shares during the period. Finally, Monimus Capital Management LP bought a new position in shares of Assembly Biosciences during the 4th quarter valued at $664,000. 19.92% of the stock is owned by institutional investors.

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.