Assembly Biosciences (NASDAQ:ASMB) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.18 and traded as high as $16.40. Assembly Biosciences shares last traded at $16.07, with a volume of 23,075 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Guggenheim started coverage on Assembly Biosciences in a report on Tuesday, March 25th. They set a "buy" rating and a $31.00 target price for the company. Wall Street Zen lowered shares of Assembly Biosciences from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, HC Wainwright restated a "neutral" rating on shares of Assembly Biosciences in a report on Monday, March 24th.

Assembly Biosciences Stock Performance

The firm has a fifty day moving average of $12.46 and a 200 day moving average of $13.25. The firm has a market capitalization of $128.70 million, a PE ratio of -2.70 and a beta of 0.55.

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

Hedge Funds Weigh In On Assembly Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASMB. Marshall Wace LLP raised its holdings in Assembly Biosciences by 16.5% in the fourth quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company's stock valued at $234,000 after acquiring an additional 2,098 shares in the last quarter. Palumbo Wealth Management LLC grew its stake in Assembly Biosciences by 57.4% in the first quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company's stock worth $172,000 after purchasing an additional 6,559 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Assembly Biosciences by 42.1% in the first quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company's stock valued at $219,000 after buying an additional 6,823 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 buying an additional 7,918 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in Assembly Biosciences during the 1st quarter worth approximately $113,000. 19.92% of the stock is owned by hedge funds and other 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.