Assembly Biosciences (NASDAQ:ASMB) Rating Reiterated by HC Wainwright

HC Wainwright restated their neutral rating on shares of Assembly Biosciences (NASDAQ:ASMB - Free Report) in a report published on Tuesday morning, Benzinga reports.

Separately, Jefferies Financial Group upgraded Assembly Biosciences from a hold rating to a buy rating and raised their price target for the stock from $2.00 to $35.00 in a research note on Friday.

Assembly Biosciences Price Performance

NASDAQ ASMB traded down $1.14 during trading hours on Tuesday, hitting $15.12. The company's stock had a trading volume of 135,614 shares, compared to its average volume of 22,873. Assembly Biosciences has a 12 month low of $7.69 and a 12 month high of $20.04. The company's 50 day simple moving average is $15.52 and its two-hundred day simple moving average is $14.50.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.98) earnings per share for the quarter, beating the consensus estimate of ($2.96) by $0.98. The company had revenue of $8.53 million for the quarter, compared to analysts' expectations of $5.96 million. On average, sell-side analysts forecast that Assembly Biosciences will post -7.41 EPS for the current year.

Insider Buying and Selling

In other Assembly Biosciences news, major shareholder Alexander Schornstein bought 4,438 shares of Assembly Biosciences stock in a transaction on Friday, July 5th. The stock was acquired at an average cost of $12.52 per share, with a total value of $55,563.76. Following the completion of the acquisition, the insider now owns 693,113 shares in the company, valued at $8,677,774.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Assembly Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in shares of Assembly Biosciences by 131.0% in the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company's stock worth $184,000 after purchasing an additional 7,690 shares during the period. Renaissance Technologies LLC boosted its holdings in Assembly Biosciences by 39.2% in the 2nd 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 during the period. Finally, Armistice Capital LLC bought a new position in Assembly Biosciences in the 2nd quarter worth $6,421,000. 19.92% of the stock is owned by hedge funds and other institutional investors.

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.