Assembly Biosciences, Inc. (NASDAQ:ASMB) has reported a recent transaction involving their Chief Manufacturing Officer, Nicole S. White, who sold shares in the company. The sale, which took place on April 30, 2024, involved a total of 1,255 shares at an average price of $12.7068, amounting to over $15,947.
The transaction was part of a "sell-to-cover" operation, which is a common practice for executives to meet tax withholding obligations related to the vesting of stock awards. According to a footnote in the filing, the shares were sold to cover tax withholding obligations as part of the vesting and settlement of restricted stock units. This process is mandated by an administrative rule adopted by the Compensation Committee of Assembly Biosciences' Board of Directors and does not represent a discretionary sale by White.
Furthermore, the shares were sold at varying prices ranging from $12.3851 to $12.8847. White has committed to providing full information regarding the number of shares sold at each separate price upon request.
In addition to the sale, White also acquired 3,333 shares of common stock on April 29, 2024, as part of a performance-based restricted stock unit award dated August 1, 2022. The shares were granted following the achievement of a performance-based vesting condition. These shares were acquired at no cost, as they were part of a pre-determined compensation plan.
Following these transactions, Nicole S. White's ownership in Assembly Biosciences stands at 13,025 shares of common stock. The sale and acquisition of shares by company executives are routinely disclosed to the public through SEC filings, providing transparency into the financial activities of the company's insiders.
InvestingPro Insights
Assembly Biosciences, Inc. (NASDAQ:ASMB) has seen some notable financial metrics that are worth considering in light of the recent insider transaction. With a market capitalization of approximately $72.76 million and a price-to-book ratio for the last twelve months as of Q4 2023 standing at 1.79, the company presents a certain valuation perspective. Despite a challenging profitability profile, with no dividends being paid to shareholders and a lack of profitability over the last twelve months, there are positive signs in the company's financial structure.
One of the InvestingPro Tips notes that Assembly Biosciences holds more cash than debt on its balance sheet, which could provide some financial flexibility in its operations. Moreover, analysts are anticipating sales growth in the current year, which could indicate potential for revenue expansion. However, it's important to note that analysts do not expect the company to be profitable this year.
From the data provided, the gross profit margin for the last twelve months as of Q4 2023 was a robust 70.46%, suggesting that the company has been effective in maintaining a high level of gross profitability relative to its revenues, which were $7.16 million for the same period.
For readers interested in a deeper dive into the company's financials and future outlook, there are additional InvestingPro Tips available, including insights on the company's valuation implying a strong free cash flow yield and liquid assets exceeding short term obligations. To access these tips and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. In total, there are 7 tips listed in InvestingPro that could provide further guidance to investors and stakeholders interested in Assembly Biosciences.
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