Assembly Biosciences, Inc. (NASDAQ:ASMB) Sees Significant Growth in Short Interest

Assembly Biosciences, Inc. (NASDAQ:ASMB) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 911,200 shares, an increase of 71.6% from the August 15th total of 530,900 shares. Based on an average trading volume of 86,900 shares, the days-to-cover ratio is currently 10.5 days. Currently, 35.3% of the company’s stock are short sold. Currently, 35.3% of the company’s stock are short sold. Based on an average trading volume of 86,900 shares, the days-to-cover ratio is currently 10.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ASMB. Man Group plc bought a new position in Assembly Biosciences in the 4th quarter worth approximately $309,000. American Century Companies Inc. bought a new position in Assembly Biosciences in the 1st quarter worth approximately $113,000. Acadian Asset Management LLC increased its position in Assembly Biosciences by 42.1% in the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 6,823 shares during the period. Palumbo Wealth Management LLC increased its position in Assembly Biosciences by 57.4% in the 1st quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 6,559 shares during the period. Finally, Geode Capital Management LLC increased its position in Assembly Biosciences by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company’s stock worth $925,000 after buying an additional 3,312 shares during the period. 19.92% of the stock is owned by institutional investors.

Assembly Biosciences Stock Down 3.3%

Shares of NASDAQ ASMB opened at $21.85 on Monday. The business’s 50 day moving average is $21.78 and its two-hundred day moving average is $15.96. The company has a market cap of $167.63 million, a P/E ratio of -3.92 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 issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, topping the consensus estimate of ($1.73) by $0.40. The company had revenue of $9.63 million for the quarter, compared to the consensus estimate of $5.30 million. Assembly Biosciences had a negative return on equity of 149.01% and a negative net margin of 117.20%. Sell-side analysts expect that Assembly Biosciences will post -6.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Guggenheim lifted their price target on Assembly Biosciences from $31.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 8th. HC Wainwright assumed coverage on Assembly Biosciences in a report on Monday, August 18th. They set a “buy” rating and a $50.00 price target for the company. Finally, Zacks Research upgraded Assembly Biosciences to a “hold” rating in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

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.