Assembly Biosciences (NASDAQ:ASMB) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.65 and traded as high as $17.68. Assembly Biosciences shares last traded at $17.37, with a volume of 23,726 shares.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ASMB shares. HC Wainwright restated a "neutral" rating on shares of Assembly Biosciences in a report on Friday, December 27th. Jefferies Financial Group raised Assembly Biosciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $2.00 to $35.00 in a research report on Friday, September 20th.

Assembly Biosciences Price Performance

The firm's 50 day moving average price is $16.03 and its two-hundred day moving average price is $15.66.

Insider Activity

In other news, Director Michael Houghton acquired 3,202 shares of the business's stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $15.61 per share, for a total transaction of $49,983.22. Following the completion of the transaction, the director now owns 3,202 shares of the company's stock, valued at $49,983.22. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.10% of the stock is owned by company insiders.

Institutional Trading of Assembly Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Assembly Biosciences by 5,137.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,509 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 3,442 shares in the last quarter. FMR LLC grew its stake in shares of Assembly Biosciences by 29.7% during the third quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company's stock valued at $240,000 after buying an additional 3,635 shares during the last quarter. Acadian Asset Management LLC grew its position 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 acquiring an additional 7,690 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Assembly Biosciences by 39.2% in the second quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company's stock worth $753,000 after buying an additional 15,451 shares during the period. Finally, Armistice Capital LLC purchased a new position in shares of Assembly Biosciences in the second quarter valued at about $6,421,000. 19.92% of the stock is currently 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.