Assembly Biosciences, Inc. (NASDAQ:ASMB) Short Interest Down 51.2% in October

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 8,000 shares, a drop of 51.2% from the October 15th total of 16,400 shares. Approximately 0.2% of the company's shares are short sold. Based on an average daily volume of 28,000 shares, the short-interest ratio is currently 0.3 days.

Assembly Biosciences Stock Performance

Shares of NASDAQ:ASMB traded down $0.02 during trading on Wednesday, reaching $16.55. 24,560 shares of the company were exchanged, compared to its average volume of 23,536. The business's fifty day simple moving average is $16.74 and its 200-day simple moving average is $15.28. Assembly Biosciences has a 12-month low of $7.69 and a 12-month high of $19.93.

Insider Activity

In related news, major shareholder Alexander Schornstein purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $14.58 per share, for a total transaction of $145,800.00. Following the acquisition, the insider now owns 703,113 shares of the company's stock, valued at approximately $10,251,387.54. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ASMB. Acadian Asset Management LLC raised its holdings in shares of Assembly Biosciences by 131.0% in the 2nd quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company's stock valued at $184,000 after purchasing an additional 7,690 shares in the last quarter. FMR LLC increased its holdings in Assembly Biosciences by 29.7% during the third quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company's stock valued at $240,000 after buying an additional 3,635 shares during the period. Renaissance Technologies LLC raised its stake in Assembly Biosciences by 39.2% in the second quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company's stock worth $753,000 after buying an additional 15,451 shares in the last quarter. Finally, Armistice Capital LLC purchased a new stake in Assembly Biosciences during the second quarter worth $6,421,000. Institutional investors own 19.92% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ASMB. HC Wainwright reissued a "neutral" rating on shares of Assembly Biosciences in a research note on Tuesday, September 24th. Jefferies Financial Group upgraded Assembly Biosciences from a "hold" rating to a "buy" rating and lifted their target price for the stock from $2.00 to $35.00 in a research report on Friday, September 20th.

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.