Assembly Biosciences, Inc. (NASDAQ:ASMB) CEO and President Jason A. Okazaki recently engaged in a stock transaction involving the company's shares, according to a new SEC filing. On April 30, 2024, Okazaki sold 1,569 shares of common stock at an average price of $12.7068, totaling over $19,936.
The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units. Notably, the transaction was a "sell-to-cover" mandated by an administrative rule from the company's Compensation Committee and was not a discretionary sale by Okazaki. The prices at which the shares were sold ranged from $12.3851 to $12.8847.
In addition to this sale, the filing also disclosed that on April 29, 2024, Okazaki received 4,166 shares of common stock under a performance-based restricted stock unit award dated August 1, 2022. This award vested upon the achievement of a performance-based condition.
Following these transactions, Okazaki's direct ownership in Assembly Biosciences stands at 16,423 shares. The company, headquartered in South San Francisco, California, is known for its work in the pharmaceutical preparations sector.
Investors and followers of Assembly Biosciences will likely monitor insider transactions such as these for insights into executive sentiment and potential financial strategies within the company.
InvestingPro Insights
Amidst recent insider transactions, Assembly Biosciences, Inc. (NASDAQ:ASMB) presents a fascinating financial landscape. With a market capitalization of $72.76 million, the company's valuation metrics provide a unique perspective. The price-to-book ratio, as of the last twelve months ending Q4 2023, stands at 1.79, which may suggest that the company's assets are reasonably valued in the market. Additionally, Assembly Biosciences reported a gross profit of $5.05 million with an impressive gross profit margin of 70.46% for the same period, indicating a strong ability to retain earnings after the cost of goods sold is accounted for.
Delving into the company's performance, the InvestingPro Tips highlight that while analysts do not expect Assembly Biosciences to be profitable this year, they do anticipate sales growth. This could signal potential for future profitability and warrants attention from investors considering the company's prospects. Moreover, it's noteworthy that Assembly Biosciences holds more cash than debt on its balance sheet, which is a reassuring sign of financial stability in uncertain economic times.
For those interested in a deeper analysis, InvestingPro offers additional insights. There are currently 6 more InvestingPro Tips available for Assembly Biosciences, which could further inform investment decisions. To access these tips and more detailed analytics, visit https://www.investing.com/pro/ASMB and remember to use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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