Assembly Biosciences, Inc. (NASDAQ:ASMB) Sees Large Drop in Short Interest

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 13,300 shares, a drop of 16.4% from the November 30th total of 15,900 shares. Based on an average trading volume of 33,400 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the company's stock are sold short.

Assembly Biosciences Price Performance

NASDAQ ASMB traded down $0.22 during trading on Friday, reaching $15.16. The company's stock had a trading volume of 30,908 shares, compared to its average volume of 25,238. Assembly Biosciences has a 1-year low of $9.12 and a 1-year high of $19.93. The business has a 50-day moving average price of $16.05 and a 200-day moving average price of $15.59.

Analyst Ratings Changes

A number of research firms have recently weighed in on ASMB. Jefferies Financial Group raised shares of Assembly Biosciences from a "hold" rating to a "buy" rating and upped their price target for the stock from $2.00 to $35.00 in a research note on Friday, September 20th. HC Wainwright restated a "neutral" rating on shares of Assembly Biosciences in a research note on Friday.

Insiders Place Their Bets

In related news, major shareholder Alexander Schornstein acquired 10,000 shares of the company's stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $14.58 per share, for a total transaction of $145,800.00. Following the purchase, the insider now owns 703,113 shares in the company, valued at $10,251,387.54. This represents a 1.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 394 shares of company stock worth $5,894. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its holdings in Assembly Biosciences by 29.7% in the third quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company's stock worth $240,000 after purchasing an additional 3,635 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of Assembly Biosciences in the second quarter worth about $6,421,000. Acadian Asset Management LLC boosted its stake in shares of Assembly Biosciences by 131.0% during the 2nd quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company's stock worth $184,000 after acquiring an additional 7,690 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Assembly Biosciences by 39.2% during the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company's stock valued at $753,000 after acquiring an additional 15,451 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Assembly Biosciences by 5,137.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,509 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 3,442 shares during the last quarter. Institutional investors own 19.92% of the company's stock.

Assembly Biosciences Company Profile

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.