Assembly Biosciences (NASDAQ:ASMB) Rating Reiterated by HC Wainwright

Assembly Biosciences (NASDAQ:ASMB)‘s stock had its “neutral” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports.

Separately, Jefferies Financial Group raised shares of Assembly Biosciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $2.00 to $35.00 in a research note on Friday.

Assembly Biosciences Trading Down 16.3 %

Shares of ASMB stock opened at $16.26 on Tuesday. Assembly Biosciences has a fifty-two week low of $7.69 and a fifty-two week high of $20.04. The stock has a 50 day simple moving average of $15.52 and a two-hundred day simple moving average of $14.50.

Assembly Biosciences (NASDAQ:ASMB) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.98) earnings per share for the quarter, beating the consensus estimate of ($2.96) by $0.98. The company had revenue of $8.53 million during the quarter, compared to the consensus estimate of $5.96 million. On average, analysts forecast that Assembly Biosciences will post -7.41 earnings per share for the current year.

Insider Buying and Selling at Assembly Biosciences

In other news, major shareholder Alexander Schornstein bought 4,438 shares of the stock in a transaction dated Friday, July 5th. The shares were bought at an average cost of $12.52 per share, with a total value of $55,563.76. Following the completion of the transaction, the insider now directly owns 693,113 shares of the company’s stock, valued at $8,677,774.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Assembly Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC acquired a new position in Assembly Biosciences during the 2nd quarter valued at about $6,421,000. Renaissance Technologies LLC lifted its holdings in shares of Assembly Biosciences by 39.2% in the second 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 in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Assembly Biosciences by 131.0% during the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 7,690 shares during the last quarter. Institutional investors and hedge funds 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.