Geode Capital Management LLC Purchases 42,750 Shares of Assertio Holdings, Inc. (NASDAQ:ASRT)

Geode Capital Management LLC raised its position in Assertio Holdings, Inc. (NASDAQ:ASRT) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,074,852 shares of the company’s stock after buying an additional 42,750 shares during the quarter. Geode Capital Management LLC’s holdings in Assertio were worth $1,269,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Assertio in the second quarter valued at about $77,000. Perritt Capital Management Inc lifted its position in shares of Assertio by 16.1% during the 2nd quarter. Perritt Capital Management Inc now owns 426,850 shares of the company’s stock valued at $529,000 after acquiring an additional 59,333 shares during the period. Renaissance Technologies LLC lifted its position in shares of Assertio by 13.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock valued at $2,948,000 after acquiring an additional 285,655 shares during the period. Marshall Wace LLP acquired a new stake in shares of Assertio during the 2nd quarter worth $70,000. Finally, Point72 DIFC Ltd bought a new position in shares of Assertio in the second quarter worth $40,000. Institutional investors own 48.96% of the company’s stock.

Assertio Price Performance

Shares of ASRT stock opened at $0.83 on Friday. The business has a fifty day simple moving average of $0.93 and a 200 day simple moving average of $1.15. The company has a market cap of $79.31 million, a P/E ratio of -1.14 and a beta of 0.78. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. Assertio Holdings, Inc. has a twelve month low of $0.73 and a twelve month high of $1.80.

Assertio (NASDAQ:ASRT) last posted its earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $29.20 million during the quarter, compared to analysts’ expectations of $29.29 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, sell-side analysts forecast that Assertio Holdings, Inc. will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Assertio news, Director Heather L. Mason acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $0.80 per share, for a total transaction of $60,000.00. Following the acquisition, the director now directly owns 287,650 shares in the company, valued at $230,120. This represents a 35.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ASRT has been the subject of several recent analyst reports. StockNews.com raised shares of Assertio from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Assertio in a report on Monday, December 16th.

Assertio Company Profile

Assertio Holdings, Inc, a commercial pharmaceutical company, provides various products to patients in the United States. Its pharmaceutical products include INDOCIN, an oral and suppository solution for the treatment of moderate to severe rheumatoid arthritis, including acute flares of chronic disease; ankylosing spondylitis and osteoarthritis; and acute painful shoulder and gouty arthritis.