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

Assembly Biosciences, Inc. (NASDAQ:ASMB) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

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

Assembly Biosciences Price Performance

The company has a 50-day simple moving average of $16.35 and a 200 day simple moving average of $15.59.

Insider Buying and Selling at Assembly Biosciences

In other Assembly Biosciences news, major shareholder Alexander Schornstein acquired 10,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $14.58 per share, with a total value of $145,800.00. Following the completion of the acquisition, the insider now owns 703,113 shares in the company, valued at approximately $10,251,387.54. This trade represents a 1.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 394 shares of company stock valued at $5,894. Corporate insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its stake in shares of Assembly Biosciences by 131.0% during the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 7,690 shares in the last quarter. FMR LLC boosted its holdings in Assembly Biosciences by 29.7% in the 3rd quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 3,635 shares during the last quarter. Renaissance Technologies LLC increased its stake 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 buying an additional 15,451 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Assembly Biosciences during the second quarter valued at approximately $6,421,000. 19.92% of the stock is owned by institutional investors and hedge funds.

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.