Assembly Biosciences (NASDAQ:ASMB) Earns Buy Rating from Analysts at Guggenheim

Guggenheim initiated coverage on shares of Assembly Biosciences (NASDAQ:ASMB - Free Report) in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $31.00 target price on the biopharmaceutical company's stock.

Several other equities analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a "neutral" rating on shares of Assembly Biosciences in a research note on Monday, March 24th. StockNews.com lowered shares of Assembly Biosciences from a "buy" rating to a "hold" rating in a research note on Monday, March 24th.

Assembly Biosciences Stock Down 2.6 %

ASMB traded down $0.28 during trading on Tuesday, hitting $10.62. The company had a trading volume of 12,009 shares, compared to its average volume of 24,885. The company has a market capitalization of $79.68 million, a PE ratio of -1.58 and a beta of 0.62. Assembly Biosciences has a one year low of $10.27 and a one year high of $19.93. The firm's 50-day moving average price is $12.55 and its 200 day moving average price is $14.94.

Remove Ads

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.57) EPS for the quarter, beating analysts' consensus estimates of ($1.75) by $0.18. The company had revenue of $7.36 million for the quarter, compared to analyst estimates of $7.05 million. Assembly Biosciences had a negative return on equity of 121.46% and a negative net margin of 144.05%. Sell-side analysts forecast that Assembly Biosciences will post -6.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael Houghton bought 3,202 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $15.61 per share, for a total transaction of $49,983.22. Following the completion of the acquisition, the director now owns 3,202 shares in the company, valued at approximately $49,983.22. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.10% of the company's stock.

Institutional Trading of Assembly Biosciences

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Assembly Biosciences by 5,137.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,509 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 3,442 shares during the last quarter. Palumbo Wealth Management LLC acquired a new stake in Assembly Biosciences in the 4th quarter worth about $180,000. Marshall Wace LLP boosted its holdings in Assembly Biosciences by 16.5% in the 4th quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company's stock valued at $234,000 after purchasing an additional 2,098 shares during the period. FMR LLC grew its position in shares of Assembly Biosciences by 29.7% during the 3rd 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. Finally, Man Group plc acquired a new stake in shares of Assembly Biosciences in the fourth quarter valued at approximately $309,000. Institutional investors and hedge funds 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.