Assembly Biosciences (NASDAQ:ASMB) Share Price Crosses Above 200-Day Moving Average - What's Next?

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.24 and traded as high as $17.50. Assembly Biosciences shares last traded at $17.10, with a volume of 69,889 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen cut Assembly Biosciences from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Guggenheim assumed coverage on Assembly Biosciences in a report on Tuesday, March 25th. They issued a "buy" rating and a $31.00 price objective on the stock. Finally, HC Wainwright reiterated a "neutral" rating on shares of Assembly Biosciences in a research note on Monday, March 24th.

Assembly Biosciences Price Performance

The business's 50 day simple moving average is $14.07 and its 200 day simple moving average is $13.30. The company has a market capitalization of $132.25 million, a price-to-earnings ratio of -2.78 and a beta of 0.55.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping analysts' consensus estimates of ($2.01) by $0.84. The company had revenue of $9.42 million during the quarter, compared to the consensus estimate of $7.41 million. Assembly Biosciences had a negative net margin of 124.15% and a negative return on equity of 131.77%. As a group, analysts expect that Assembly Biosciences, Inc. will post -6.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Assembly Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gilead Sciences Inc. acquired a new stake in shares of Assembly Biosciences in the 4th quarter valued at approximately $34,865,000. Renaissance Technologies LLC raised its position in Assembly Biosciences by 44.3% in the fourth quarter. Renaissance Technologies LLC now owns 94,711 shares of the biopharmaceutical company's stock worth $1,495,000 after acquiring an additional 29,087 shares in the last quarter. B Group Inc. acquired a new stake in Assembly Biosciences in the fourth quarter valued at $799,000. Monimus Capital Management LP purchased a new stake in shares of Assembly Biosciences during the 4th quarter worth $664,000. Finally, Acadian Asset Management LLC grew its stake in shares of Assembly Biosciences by 42.1% during the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company's stock worth $219,000 after purchasing an additional 6,823 shares during the period. Institutional investors and hedge funds own 19.92% of the company's stock.

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.