Assembly Biosciences (NASDAQ:ASMB) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Assembly Biosciences' stock recently surpassed its 200-day moving average, reaching a high of $25.14 before closing at $24.78.
• Brokerage analysts have rated the stock positively, with two "Buy" ratings and one "Hold," and an average price target of $44.50.
• The company reported earnings per share of ($1.33), beating expectations, with quarterly revenue of $9.63 million compared to the anticipated $5.30 million.

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 $16.39 and traded as high as $25.14. Assembly Biosciences shares last traded at $24.78, with a volume of 236,421 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on ASMB. Zacks Research raised Assembly Biosciences to a "hold" rating in a research note on Tuesday, August 19th. HC Wainwright began coverage on Assembly Biosciences in a research note on Monday, August 18th. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Guggenheim lifted their price target on Assembly Biosciences from $31.00 to $39.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.50.

Assembly Biosciences Price Performance

The company has a market capitalization of $190.06 million, a PE ratio of -4.44 and a beta of 0.67. The company has a 50 day moving average of $22.23 and a two-hundred day moving average of $16.39.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.73) by $0.40. The company had revenue of $9.63 million for the quarter, compared to analysts' expectations of $5.30 million. Assembly Biosciences had a negative return on equity of 149.01% and a negative net margin of 117.20%. On average, equities analysts anticipate that Assembly Biosciences, Inc. will post -6.87 EPS for the current year.

Institutional Investors Weigh In On Assembly Biosciences

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings 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. Palumbo Wealth Management LLC lifted its holdings in shares of Assembly Biosciences by 3.8% during the second quarter. Palumbo Wealth Management LLC now owns 18,667 shares of the biopharmaceutical company's stock valued at $338,000 after purchasing an additional 681 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Assembly Biosciences by 42.1% during the first 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 in the last quarter. American Century Companies Inc. bought a new position in shares of Assembly Biosciences during the first quarter valued at $113,000. Finally, Man Group plc bought a new position in shares of Assembly Biosciences during the fourth quarter valued at $309,000. 19.92% of the stock is owned by institutional investors.

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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