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

Key Points

• Assembly Biosciences' stock price crossed above its 200-day moving average, trading as high as $18.50 with the last traded price at $18.45.
• The company reported earnings per share of ($1.17) for the last quarter, beating consensus estimates significantly, and had a revenue of $9.42 million.
• Institutional investors have recently shown interest, with Gilead Sciences Inc. purchasing $34.87 million in shares during the 4th quarter.

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.69 and traded as high as $18.50. Assembly Biosciences shares last traded at $18.45, with a volume of 21,313 shares traded.

Assembly Biosciences Price Performance

The business has a 50-day simple moving average of $16.86 and a 200-day simple moving average of $13.65. The firm has a market capitalization of $144.63 million, a PE ratio of -3.04 and a beta of 0.62.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating analysts' consensus estimates of ($2.01) by $0.84. Assembly Biosciences had a negative return on equity of 131.77% and a negative net margin of 124.15%. The firm had revenue of $9.42 million for the quarter, compared to analysts' expectations of $7.41 million. On average, research analysts expect that Assembly Biosciences, Inc. will post -6.87 earnings per share for the current year.

Institutional Trading of Assembly Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of Assembly Biosciences by 225.6% during the 4th 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 last quarter. American Century Companies Inc. acquired a new position in shares of Assembly Biosciences in the 1st quarter valued at about $113,000. Marshall Wace LLP grew its position in shares of Assembly Biosciences by 16.5% during the 4th 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 during the period. Palumbo Wealth Management LLC grew its position in shares of Assembly Biosciences by 57.4% during the 1st quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company's stock valued at $172,000 after acquiring an additional 6,559 shares during the period. Finally, Man Group plc acquired a new stake in shares of Assembly Biosciences during the 4th quarter valued at about $309,000. Hedge funds and other institutional investors 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.