Assembly Biosciences, Inc. (NASDAQ:ASMB) director John G. McHutchison recently executed a stock sale, according to the company's latest SEC filing. The transaction involved the disposal of 1,206 shares of common stock at an average price of $13.0719, resulting in a total value of approximately $15,764.
This sale was carried out to cover tax withholding obligations connected to the vesting and settlement of restricted stock units. It was part of a mandatory "sell-to-cover" transaction as stipulated by the company's Compensation Committee and does not reflect a discretionary market trade by McHutchison. The shares were sold in multiple transactions with prices ranging from $12.90 to $13.30.
Following the sale, McHutchison's remaining stake in the company is reported to be 21,221 shares. It's worth noting that this figure has been adjusted to account for a 1-for-12 reverse stock split of Assembly Biosciences' common stock that took effect on February 9, 2023.
The transaction was signed off by John O. Gunderson, as Attorney-in-Fact, and filed with the SEC on April 2, 2024. The details of the transactions, including the specific number of shares sold at each price point, are available from the reporting person upon request by the issuer, any security holder, or the SEC staff.
InvestingPro Insights
Assembly Biosciences, Inc. (NASDAQ:ASMB) has recently caught the attention of investors following a stock sale by director John G. McHutchison. While the sale was part of a mandatory procedure, the company's financial health and market performance are key factors for potential investors. According to InvestingPro data, Assembly Biosciences has a market capitalization of roughly $74.02 million, and its stock has experienced a strong return over the last three months, with a 29.21% price total return, signaling a positive trend in investor sentiment.
Despite not being profitable over the last twelve months, with an operating income of approximately -$64.65 million, Assembly Biosciences holds more cash than debt on its balance sheet, which is a reassuring sign of financial stability. Additionally, the company's valuation implies a strong free cash flow yield, which could be an attractive point for value investors. It's also noteworthy that the company's liquid assets exceed its short-term obligations, further emphasizing its solid financial footing.
InvestingPro Tips suggest that while analysts do not anticipate the company will be profitable this year, it has seen a large price uptick over the last six months, with a 26.47% price total return. It's also important to note that Assembly Biosciences does not pay a dividend to shareholders, which may be a consideration for those focused on income-generating investments.
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