Assembly Biosciences, Inc. (NASDAQ:ASMB) Sees Significant Drop in Short Interest

by · The Markets Daily

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

Assembly Biosciences Trading Down 2.6 %

NASDAQ ASMB traded down $0.45 during trading on Monday, reaching $17.01. 32,406 shares of the company’s stock traded hands, compared to its average volume of 23,342. Assembly Biosciences has a 12-month low of $7.69 and a 12-month high of $20.04. The company’s 50 day simple moving average is $15.67 and its two-hundred day simple moving average is $14.77.

Assembly Biosciences (NASDAQ:ASMB – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.98) EPS for the quarter, topping 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. Equities analysts forecast that Assembly Biosciences will post -7.82 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Get Our Latest Stock Report on Assembly Biosciences

Insider Buying and Selling

In other Assembly Biosciences news, major shareholder Alexander Schornstein purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $14.58 per share, with a total value of $145,800.00. Following the purchase, the insider now owns 703,113 shares of the company’s stock, valued at approximately $10,251,387.54. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Assembly Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its position in shares of Assembly Biosciences by 131.0% in the 2nd quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 7,690 shares during the last quarter. Renaissance Technologies LLC grew its stake 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 purchasing an additional 15,451 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Assembly Biosciences in the second quarter worth about $6,421,000. Hedge funds and other institutional investors own 19.92% of the company’s stock.

About Assembly Biosciences

(Get Free Report)

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.

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