HC Wainwright Reaffirms Neutral Rating for Assembly Biosciences (NASDAQ:ASMB)

HC Wainwright reaffirmed their neutral rating on shares of Assembly Biosciences (NASDAQ:ASMB) in a research note published on Tuesday, Benzinga reports.

Separately, Jefferies Financial Group raised Assembly Biosciences from a hold rating to a buy rating and lifted their price objective for the company from $2.00 to $35.00 in a research report on Friday, September 20th.

Assembly Biosciences Stock Performance

Assembly Biosciences stock opened at $15.55 on Tuesday. The business has a 50-day simple moving average of $15.52 and a two-hundred day simple moving average of $14.52. Assembly Biosciences has a 52-week low of $7.69 and a 52-week high of $20.04.

Assembly Biosciences (NASDAQ:ASMB) last released its quarterly 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 firm had revenue of $8.53 million for the quarter, compared to the consensus estimate of $5.96 million. On average, equities research analysts expect that Assembly Biosciences will post -7.82 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Alexander Schornstein acquired 4,438 shares of Assembly Biosciences stock in a transaction on Friday, July 5th. The shares were acquired at an average price of $12.52 per share, with a total value of $55,563.76. Following the purchase, the insider now directly owns 693,113 shares in the company, valued at approximately $8,677,774.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Assembly Biosciences

Several large investors have recently modified their holdings of ASMB. Acadian Asset Management LLC increased its position in shares of Assembly Biosciences by 131.0% during the 2nd quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock valued at $184,000 after purchasing an additional 7,690 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Assembly Biosciences by 39.2% in the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock worth $753,000 after buying an additional 15,451 shares during the period. Finally, Armistice Capital LLC purchased a new stake in shares of Assembly Biosciences during the 2nd quarter worth $6,421,000. 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.