Assembly Biosciences (NASDAQ:ASMB) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright restated their neutral rating on shares of Assembly Biosciences (NASDAQ:ASMB) in a report released on Tuesday morning, Benzinga reports.

Separately, Jefferies Financial Group upgraded shares of Assembly Biosciences from a hold rating to a buy rating and boosted their target price for the company from $2.00 to $35.00 in a research report on Friday, September 20th.

Assembly Biosciences Price Performance

ASMB stock opened at $15.79 on Tuesday. Assembly Biosciences has a 1-year low of $7.69 and a 1-year high of $20.04. The business’s 50 day simple moving average is $15.53 and its 200 day simple moving average is $14.53.

Assembly Biosciences (NASDAQ:ASMB) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.98) earnings per share for the quarter, topping the consensus estimate of ($2.96) by $0.98. The business had revenue of $8.53 million during the quarter, compared to analyst estimates of $5.96 million. As a group, analysts anticipate that Assembly Biosciences will post -7.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Alexander Schornstein acquired 4,562 shares of Assembly Biosciences stock in a transaction on Wednesday, July 3rd. The shares were acquired at an average cost of $12.29 per share, with a total value of $56,066.98. Following the transaction, the insider now owns 688,675 shares in the company, valued at $8,463,815.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Armistice Capital LLC purchased a new stake in shares of Assembly Biosciences in the second quarter worth about $6,421,000. Renaissance Technologies LLC boosted its holdings in Assembly Biosciences by 39.2% during the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock valued at $753,000 after acquiring an additional 15,451 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Assembly Biosciences by 131.0% in the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 7,690 shares during the last quarter. Institutional investors own 19.92% of the company’s stock.

About Assembly Biosciences

Assembly Biosciences, Inc, a biotechnology company, develops therapeutic candidates for the treatment of viral diseases. It develops ABI-5366, a long-acting herpes simplex virus (HSV) helicase-primase inhibitor that is in Phase 1a/1b clinical trial to treat recurrent genital herpes; ABI-1179, which is in Phase 1a/1b clinical trial for the treatment of recurrent genital herpes; and ABI-6250, a small molecule orally bioavailable hepatitis delta virus entry inhibitor that is in Phase 1a clinical trial.