Assembly Biosciences, Inc. (NASDAQ:ASMB) has reported a recent transaction by its CEO and President, Jason A. Okazaki, involving the sale of company stock. The transaction, dated May 23, 2024, was executed to cover tax withholding obligations related to the vesting of restricted stock units.
The shares sold by Okazaki amounted to a total of 549 shares of common stock, generating approximately $8,198. The sales were made at a weighted average price of $14.9338 per share, with individual transactions ranging from $14.74 to $15.20. Following the sale, Okazaki's ownership in the company stands at 16,082 shares.
The sale was not a discretionary move by Okazaki, but rather a requirement by an administrative rule set by the Assembly Biosciences' Compensation Committee. This rule mandates that tax withholding obligations for restricted stock units are to be satisfied through a "sell-to-cover" transaction.
Additionally, it should be noted that the CEO's current share ownership includes 208 shares acquired under the Assembly Biosciences, Inc. Amended and Restated 2018 Employee Stock Purchase Plan, which were obtained on May 14, 2024.
Investors and security holders may, upon request, receive full information regarding the specific prices at which the shares were sold within the reported range.
InvestingPro Insights
Assembly Biosciences, Inc. (NASDAQ:ASMB) has recently been in the news due to the CEO's stock transaction, shedding light on the company's financial health and market performance. InvestingPro provides pertinent data and tips that offer a deeper understanding of the company's current valuation and future prospects.
InvestingPro data highlights a market capitalization of $82.19 million for ASMB, suggesting a relatively small-cap biotech player in the market. The company's P/E ratio stands at -1.13, reflecting its current lack of profitability. However, the gross profit margin for the last twelve months as of Q1 2024 is notably high at 83.66%, indicating effective cost management relative to revenue.
From a performance standpoint, ASMB has experienced a substantial 70.95% price total return over the last six months, with a year-to-date return of 49.88%. This robust performance is corroborated by InvestingPro Tips, which note that the company has had a strong return over the last three months and a significant price uptick over the last six months.
Despite not being profitable over the last twelve months, analysts are optimistic about ASMB's sales growth in the current year. This optimism could be a driving factor behind the recent positive price momentum. Additionally, the company holds more cash than debt, a reassuring sign for investors concerned about financial stability. It's also noteworthy that ASMB's liquid assets exceed short-term obligations, providing a cushion for operational needs.
For investors looking for more detailed analysis and additional tips, there are 9 more InvestingPro Tips available for ASMB at https://www.investing.com/pro/ASMB. These tips can provide a more comprehensive view of the company's financial health and future potential. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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