Assembly Biosciences, Inc. (NASDAQ:ASMB – Get Free Report) insider Nicole White sold 2,593 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $19.62, for a total value of $50,874.66. Following the transaction, the insider directly owned 59,257 shares in the company, valued at $1,162,622.34. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Assembly Biosciences Trading Up 2.1%
NASDAQ ASMB traded up $0.41 during mid-day trading on Tuesday, hitting $19.92. The company’s stock had a trading volume of 170,887 shares, compared to its average volume of 191,131. The firm has a market capitalization of $405.59 million, a price-to-earnings ratio of 19.53 and a beta of 1.26. The company’s 50 day simple moving average is $25.84 and its 200 day simple moving average is $27.18. Assembly Biosciences, Inc. has a twelve month low of $19.25 and a twelve month high of $39.71.
Assembly Biosciences (NASDAQ:ASMB – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.52. Assembly Biosciences had a negative net margin of 0.06% and a negative return on equity of 0.02%. The firm had revenue of $13.37 million for the quarter, compared to analyst estimates of $8.60 million. As a group, research analysts forecast that Assembly Biosciences, Inc. will post 2.28 EPS for the current year.
Analysts Set New Price Targets
Several research firms recently weighed in on ASMB. Mizuho set a $53.00 price target on shares of Assembly Biosciences in a research report on Tuesday, September 1st. UBS Group lowered their price objective on Assembly Biosciences from $52.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Assembly Biosciences in a report on Tuesday, August 18th. Zacks Research upgraded Assembly Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Assembly Biosciences in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.50.
View Our Latest Report on Assembly Biosciences
Assembly Biosciences News Roundup
Here are the key news stories impacting Assembly Biosciences this week:
- Positive Sentiment: UBS cut its price target to $48 from $52 but maintained its Buy rating. The revised target remains well above the share price cited in the report, suggesting the firm sees substantial potential upside. UBS price target and rating
- Neutral Sentiment: The reported sales by CEO Jason Okazaki and three other insiders were described as covering tax withholding obligations tied to equity vesting, which makes them less clearly bearish than discretionary sales. CEO SEC filing Anuj Gaggar SEC filing Nicole White SEC filing Jeanette Bjorkquist SEC filing
- Neutral Sentiment: Assembly Biosciences said management will participate in investor conferences in November; the announcement did not include new business or clinical updates. Investor conference announcement
Institutional Trading of Assembly Biosciences
Several institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Assembly Biosciences by 4.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 39,446 shares of the biopharmaceutical company’s stock worth $1,095,000 after buying an additional 1,634 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Assembly Biosciences by 113.3% in the first quarter. Bank of America Corp DE now owns 10,902 shares of the biopharmaceutical company’s stock valued at $303,000 after purchasing an additional 5,792 shares during the period. Renaissance Technologies LLC grew its position in shares of Assembly Biosciences by 69.4% during the 1st quarter. Renaissance Technologies LLC now owns 15,651 shares of the biopharmaceutical company’s stock worth $434,000 after buying an additional 6,411 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Assembly Biosciences by 88.5% in the 2nd quarter. Engineers Gate Manager LP now owns 17,766 shares of the biopharmaceutical company’s stock worth $488,000 after purchasing an additional 8,343 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in Assembly Biosciences by 43.7% during the second quarter. Squarepoint Ops LLC now owns 34,214 shares of the biopharmaceutical company’s stock worth $940,000 after buying an additional 10,410 shares during the period. Hedge funds and other institutional investors own 19.92% of the company’s stock.
Assembly Biosciences Company Profile
Assembly Biosciences, Inc is a clinical-stage biotechnology company focused on developing oral therapeutics for serious viral infections. The company’s research programs target chronic hepatitis B virus (HBV) infection and herpesvirus infections, including herpes simplex virus (HSV), with the goal of addressing diseases for which existing treatments may not provide adequate cures or long-term control.
Assembly’s pipeline includes novel antiviral candidates designed to interfere with essential stages of viral replication.
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