Assembly Biosciences (NASDAQ:ASMB) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.16 and traded as high as $17.09. Assembly Biosciences shares last traded at $16.65, with a volume of 17,780 shares.

Analyst Upgrades and Downgrades

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

Assembly Biosciences Trading Up 5.1 %

The business's 50 day simple moving average is $16.71 and its 200 day simple moving average is $15.18.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.98) EPS for the quarter, beating the consensus estimate of ($2.96) by $0.98. The firm had revenue of $8.53 million for the quarter, compared to the consensus estimate of $5.96 million. On average, equities analysts forecast that Assembly Biosciences, Inc. will post -7.82 earnings per share for the current year.

Insider Buying and Selling at Assembly Biosciences

In other Assembly Biosciences news, major shareholder Alexander Schornstein purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average price of $14.58 per share, with a total value of $145,800.00. Following the acquisition, the insider now owns 703,113 shares in the company, valued at approximately $10,251,387.54. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.10% of the company's stock.

Hedge Funds Weigh In On Assembly Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Assembly Biosciences by 131.0% during the 2nd quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company's stock worth $184,000 after buying an additional 7,690 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Assembly Biosciences by 39.2% in the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company's stock valued at $753,000 after buying an additional 15,451 shares during the period. Finally, Armistice Capital LLC acquired a new position in Assembly Biosciences in the second quarter valued at approximately $6,421,000. 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.