Assembly Biosciences (NASDAQ:ASMB) Stock Passes Above 200 Day Moving Average – What’s Next?

Assembly Biosciences, Inc. (NASDAQ:ASMB)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

ASMB has been the topic of a number of analyst reports. HC Wainwright reissued a “neutral” rating on shares of Assembly Biosciences in a research note on Friday, December 27th. Jefferies Financial Group raised shares of Assembly Biosciences from a “hold” rating to a “buy” rating and lifted their target price for the stock from $2.00 to $35.00 in a research report on Friday, September 20th.

Assembly Biosciences Trading Down 2.5 %

The firm has a 50-day moving average of $16.03 and a two-hundred day moving average of $15.67.

Insider Buying and Selling

In other news, Director Michael Houghton bought 3,202 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $15.61 per share, with a total value of $49,983.22. Following the transaction, the director now directly owns 3,202 shares in the company, valued at approximately $49,983.22. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Assembly Biosciences

Several large investors have recently made changes to their positions in ASMB. JPMorgan Chase & Co. raised its stake 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 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 buying an additional 3,635 shares during the last quarter. Armistice Capital LLC bought a new position in Assembly Biosciences in the 2nd quarter worth $6,421,000. Renaissance Technologies LLC lifted its position in Assembly Biosciences by 39.2% during the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock worth $753,000 after acquiring an additional 15,451 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Assembly Biosciences by 131.0% during the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock valued at $184,000 after acquiring an additional 7,690 shares during the period. 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.