Short Interest in Assembly Biosciences, Inc. (NASDAQ:ASMB) Expands By 1,699.7%

Assembly Biosciences, Inc. (NASDAQ:ASMB) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 530,900 shares, anincreaseof1,699.7% from the July 31st total of 29,500 shares. Currently,7.2% of the shares of the company are sold short. Based on an average trading volume of 64,200 shares, the days-to-cover ratio is currently 8.3 days. Based on an average trading volume of 64,200 shares, the days-to-cover ratio is currently 8.3 days. Currently,7.2% of the shares of the company are sold short.

Assembly Biosciences Price Performance

Assembly Biosciences stock opened at $24.13 on Wednesday. The firm has a 50 day simple moving average of $20.93 and a 200-day simple moving average of $15.36. The stock has a market capitalization of $185.08 million, a PE ratio of -4.32 and a beta of 0.68. Assembly Biosciences has a 12-month low of $7.75 and a 12-month high of $27.17.

Assembly Biosciences (NASDAQ:ASMB) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.73) by $0.40. The business had revenue of $9.63 million during the quarter, compared to analysts’ expectations of $5.30 million. Assembly Biosciences had a negative net margin of 117.20% and a negative return on equity of 149.01%. On average, analysts forecast that Assembly Biosciences will post -6.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Assembly Biosciences by 225.6% in the fourth quarter. JPMorgan Chase & Co. now owns 11,427 shares of the biopharmaceutical company’s stock valued at $180,000 after acquiring an additional 7,918 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Assembly Biosciences in the first quarter valued at approximately $113,000. Marshall Wace LLP boosted its holdings in shares of Assembly Biosciences by 16.5% in the fourth quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 2,098 shares in the last quarter. Palumbo Wealth Management LLC boosted its holdings in shares of Assembly Biosciences by 57.4% in the first quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company’s stock valued at $172,000 after acquiring an additional 6,559 shares in the last quarter. Finally, Man Group plc bought a new position in shares of Assembly Biosciences in the fourth quarter valued at approximately $309,000. 19.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ASMB has been the topic of several analyst reports. Zacks Research upgraded shares of Assembly Biosciences to a “hold” rating in a research note on Tuesday, August 19th. HC Wainwright initiated coverage on shares of Assembly Biosciences in a research note on Monday, August 18th. They issued a “buy” rating and a $50.00 price target on the stock. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

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.