Assembly Biosciences (NASDAQ:ASMB) Stock: Insider Anuj Gaggar Sells 2,593 Shares

Assembly Biosciences, Inc. (NASDAQ:ASMB – Get Free Report) insider Anuj Gaggar sold 2,593 shares of the stock in a transaction dated Monday, November 2nd. The shares were 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 approximately $1,055,556. This represents a 4.60% decrease in their position. The sale 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.

Assembly Biosciences Price Performance

ASMB opened at $19.87 on Thursday. The company’s 50-day moving average is $25.23 and its 200 day moving average is $27.07. Assembly Biosciences, Inc. has a fifty-two week low of $19.25 and a fifty-two week high of $39.71. The firm has a market capitalization of $404.55 million, a P/E ratio of 19.53 and a beta of 1.26.

Assembly Biosciences (NASDAQ:ASMB – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $8.60 million. On average, equities research analysts expect that Assembly Biosciences, Inc. will post 2.28 earnings per share for the current year.

More Assembly Biosciences News

Here are the key news stories impacting Assembly Biosciences this week:

  • Positive Sentiment: Analyst coverage remains broadly favorable: the reported consensus price target is $47.50, well above the recent share price, although targets are estimates and not a guarantee of future performance. Consensus price target report
  • Neutral Sentiment: UBS cut its price target to $48 from $52, but maintained its Buy rating. The lower target signals a more cautious valuation, while the continued Buy rating remains supportive. UBS price target update
  • Neutral Sentiment: The CEO and three other insiders sold shares, including CEO Jason Okazaki, but the sales were reported as covering tax withholding obligations tied to vested equity awards. That makes them less indicative of a negative outlook than discretionary selling. SEC insider transaction filing

Institutional Investors Weigh In On Assembly Biosciences

A number of hedge funds have recently modified their holdings of ASMB. Arrowstreet Capital Limited Partnership lifted its stake in Assembly Biosciences by 4.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 39,446 shares of the biopharmaceutical company’s stock valued at $1,095,000 after purchasing an additional 1,634 shares during the last quarter. Bank of America Corp DE grew its holdings in Assembly Biosciences by 113.3% during 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 holdings in Assembly Biosciences by 69.4% during the first quarter. Renaissance Technologies LLC now owns 15,651 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 6,411 shares during the period. Engineers Gate Manager LP increased its position in Assembly Biosciences by 88.5% in the second quarter. Engineers Gate Manager LP now owns 17,766 shares of the biopharmaceutical company’s stock worth $488,000 after buying an additional 8,343 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Assembly Biosciences by 43.7% in 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 last quarter. Institutional investors own 19.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ASMB. Mizuho set a $53.00 target price on Assembly Biosciences in a report on Tuesday, September 1st. Zacks Research upgraded Assembly Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assembly Biosciences in a research note on Thursday, October 15th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Assembly Biosciences in a research note on Tuesday, August 18th. Finally, UBS Group cut their price target on shares of Assembly Biosciences from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Assembly Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

View Our Latest Stock Analysis on ASMB

About Assembly Biosciences

(Get Free Report)

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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