Wealthfront Advisers LLC Makes New $53,000 Investment in Assertio Holdings, Inc. (NASDAQ:ASRT)

Wealthfront Advisers LLC purchased a new position in Assertio Holdings, Inc. (NASDAQ:ASRT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 61,122 shares of the company’s stock, valued at approximately $53,000. Wealthfront Advisers LLC owned about 0.06% of Assertio at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ASRT. XTX Topco Ltd acquired a new stake in Assertio in the 3rd quarter worth about $203,000. GSA Capital Partners LLP acquired a new position in shares of Assertio in the 3rd quarter valued at about $177,000. CM Management LLC lifted its stake in shares of Assertio by 23.1% in the 4th quarter. CM Management LLC now owns 400,000 shares of the company’s stock valued at $348,000 after purchasing an additional 75,000 shares in the last quarter. Sonora Investment Management Group LLC acquired a new position in shares of Assertio in the 4th quarter valued at about $39,000. Finally, Geode Capital Management LLC lifted its stake in shares of Assertio by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company’s stock valued at $1,269,000 after purchasing an additional 42,750 shares in the last quarter. 48.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ASRT shares. Industrial Alliance Securities set a $1.75 price objective on Assertio in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Assertio in a research note on Monday, December 16th. Finally, StockNews.com lowered Assertio from a “buy” rating to a “hold” rating in a research note on Monday.

Assertio Stock Performance

Shares of NASDAQ:ASRT opened at $0.72 on Wednesday. The company has a market cap of $68.55 million, a P/E ratio of -0.98, a PEG ratio of 3.25 and a beta of 0.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01. Assertio Holdings, Inc. has a one year low of $0.68 and a one year high of $1.80. The business’s 50-day simple moving average is $0.80 and its 200 day simple moving average is $0.96.

Assertio 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.