Assembly Biosciences (NASDAQ:ASMB) Shares Pass Above 200 Day Moving Average - Here's Why

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.59 and traded as high as $16.26. Assembly Biosciences shares last traded at $15.21, with a volume of 30,654 shares trading hands.

Analysts Set New Price Targets

ASMB has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of Assembly Biosciences from a "hold" rating to a "buy" rating and boosted their price objective for the company from $2.00 to $35.00 in a research report on Friday, September 20th. HC Wainwright restated a "neutral" rating on shares of Assembly Biosciences in a report on Tuesday, September 24th.

Assembly Biosciences Trading Down 3.8 %

The stock's 50 day moving average price is $16.35 and its 200 day moving average price is $15.59.

Insiders Place Their Bets

In other Assembly Biosciences news, major shareholder Alexander Schornstein purchased 10,000 shares of Assembly Biosciences stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $14.58 per share, with a total value of $145,800.00. Following the completion of the transaction, the insider now directly owns 703,113 shares in the company, valued at approximately $10,251,387.54. This represents a 1.44 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 394 shares of company stock valued at $5,894 over the last quarter. Company insiders own 5.10% of the company's stock.

Institutional Trading of Assembly Biosciences

A number of institutional investors have recently added to or reduced their stakes in ASMB. Acadian Asset Management LLC boosted its holdings in Assembly Biosciences by 131.0% in the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company's stock valued at $184,000 after purchasing an additional 7,690 shares during the last quarter. FMR LLC raised its stake in shares of Assembly Biosciences by 29.7% in the 3rd quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company's stock valued at $240,000 after purchasing an additional 3,635 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Assembly Biosciences by 39.2% during the second quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company's stock worth $753,000 after purchasing an additional 15,451 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in Assembly Biosciences in the second quarter worth about $6,421,000. 19.92% of the stock is owned by hedge funds and other 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.