Assembly Biosciences (NASDAQ:ASMB) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Shares of Assembly Biosciences passed above its 200-day moving average, highlighting a significant price movement, trading at $24.96 as of the latest report.
• The company reported a quarterly loss of $1.33 per share, exceeding analysts' expectations and generating revenue of $9.63 million, well above the $5.30 million forecast.
• Institutional investment interest is increasing, with 19.92% of the stock owned by institutional investors, including significant stakes from Gilead Sciences and Renaissance Technologies.

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.27 and traded as high as $25.11. Assembly Biosciences shares last traded at $24.96, with a volume of 135,264 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright initiated coverage on Assembly Biosciences in a report on Monday. They issued a "buy" rating and a $50.00 price target for the company. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $38.67.

Assembly Biosciences Stock Performance

The company has a 50 day simple moving average of $19.06 and a two-hundred day simple moving average of $14.43. The company has a market cap of $191.71 million, a PE ratio of -4.48 and a beta of 0.64.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, beating 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%. As a group, analysts expect that Assembly Biosciences, Inc. will post -6.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of 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 purchasing an additional 7,918 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Assembly Biosciences by 44.3% during the fourth quarter. Renaissance Technologies LLC now owns 94,711 shares of the biopharmaceutical company's stock worth $1,495,000 after purchasing an additional 29,087 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Assembly Biosciences by 16.5% during the fourth quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 2,098 shares during the last quarter. B Group Inc. bought a new stake in shares of Assembly Biosciences during the fourth quarter worth $799,000. Finally, Man Group plc bought a new position in Assembly Biosciences in the fourth quarter valued at about $309,000. 19.92% of the stock is currently owned by institutional investors and hedge funds.

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.