Assembly Biosciences, Inc. (NASDAQ:ASMB) Short Interest Down 22.9% in September

Assembly Biosciences, Inc. (NASDAQ:ASMB) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 17,800 shares, a drop of 22.9% from the September 15th total of 23,100 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 21,900 shares, the days-to-cover ratio is currently 0.8 days.

Insider Transactions at Assembly Biosciences

In other news, major shareholder Alexander Schornstein bought 10,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was bought at an average price of $14.58 per share, with a total value of $145,800.00. Following the completion of the acquisition, the insider now owns 703,113 shares of the company’s stock, valued at $10,251,387.54. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

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

Assembly Biosciences Stock Performance

Shares of NASDAQ ASMB opened at $17.01 on Tuesday. Assembly Biosciences has a 52 week low of $7.69 and a 52 week high of $20.04. The stock’s fifty day moving average is $15.74 and its 200 day moving average is $14.79.

Assembly Biosciences (NASDAQ:ASMB) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.96) by $0.98. The business had revenue of $8.53 million during the quarter, compared to the consensus estimate of $5.96 million. On average, analysts predict that Assembly Biosciences will post -7.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright restated a “neutral” rating on shares of Assembly Biosciences in a research report on Tuesday, September 24th. Jefferies Financial Group upgraded Assembly Biosciences from a “hold” rating to a “buy” rating and raised their price target for the stock from $2.00 to $35.00 in a research report on Friday, September 20th.

Assembly Biosciences Company Profile

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.