Assembly Biosciences (NASDAQ:ASMB) Stock Dropped to “Hold” by Zacks Research

Assembly Biosciences (NASDAQ:ASMB – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other brokerages have also recently issued reports on ASMB. UBS Group decreased their target price on shares of Assembly Biosciences from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Mizuho set a $53.00 price target on Assembly Biosciences in a research report on Tuesday, September 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assembly Biosciences in a research report on Thursday, October 15th. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Assembly Biosciences in a research note on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.50.

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Assembly Biosciences Stock Performance

Shares of ASMB opened at $21.35 on Monday. The stock has a market capitalization of $434.69 million, a PE ratio of 20.93 and a beta of 1.26. The company’s fifty day moving average is $24.14 and its 200 day moving average is $26.93. Assembly Biosciences has a fifty-two week low of $19.20 and a fifty-two week 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) EPS for the quarter, beating the consensus estimate 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 business had revenue of $13.37 million during the quarter, compared to analyst estimates of $8.60 million. As a group, research analysts forecast that Assembly Biosciences will post 2.28 earnings per share for the current year.

Insider Buying and Selling at Assembly Biosciences

In other news, CEO Jason A. Okazaki sold 6,202 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $19.62, for a total value of $121,683.24. Following the completion of the sale, the chief executive officer owned 195,532 shares in the company, valued at approximately $3,836,337.84. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anuj Gaggar sold 2,593 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $19.62, for a total transaction of $50,874.66. Following the completion of the sale, the insider owned 53,800 shares of the company’s stock, valued at $1,055,556. This trade represents a 4.60% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 12,115 shares of company stock worth $237,696 over the last quarter. Insiders own 3.50% of the company’s stock.

Institutional Trading of Assembly Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASMB. Seven Fleet Capital Management LP lifted its stake in Assembly Biosciences by 671.5% in the second quarter. Seven Fleet Capital Management LP now owns 433,147 shares of the biopharmaceutical company’s stock worth $11,903,000 after purchasing an additional 377,000 shares during the last quarter. Stempoint Capital LP boosted its position in shares of Assembly Biosciences by 18.3% during the first quarter. Stempoint Capital LP now owns 185,435 shares of the biopharmaceutical company’s stock valued at $5,146,000 after buying an additional 28,707 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Assembly Biosciences during the second quarter valued at approximately $660,000. Janus Henderson Group PLC grew its stake in shares of Assembly Biosciences by 1.4% during the first quarter. Janus Henderson Group PLC now owns 849,309 shares of the biopharmaceutical company’s stock valued at $23,479,000 after buying an additional 11,384 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Assembly Biosciences by 43.7% during the second quarter. Squarepoint Ops LLC now owns 34,214 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 10,410 shares during the last quarter. 19.92% of the stock is owned by hedge funds and other institutional investors.

About Assembly Biosciences

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Assembly Biosciences is a clinical-stage biotechnology company focused on developing oral antiviral therapies for viral infections. Its research programs target hepatitis B virus (HBV) and herpesviruses, including herpes simplex virus. The company’s pipeline includes investigational antiviral candidates designed to interfere with key steps in viral replication. Assembly has also worked with Gilead Sciences on antiviral development, including programs targeting herpesviruses. Its therapies remain under investigation and are not approved medicines.

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