HC Wainwright Has Optimistic Outlook of ASMB FY2024 Earnings

Assembly Biosciences, Inc. (NASDAQ:ASMB - Free Report) - Analysts at HC Wainwright lifted their FY2024 earnings per share (EPS) estimates for Assembly Biosciences in a note issued to investors on Monday, November 11th. HC Wainwright analyst E. Arce now expects that the biopharmaceutical company will earn ($6.87) per share for the year, up from their prior forecast of ($7.41). HC Wainwright has a "Neutral" rating on the stock. The consensus estimate for Assembly Biosciences' current full-year earnings is ($7.82) per share. HC Wainwright also issued estimates for Assembly Biosciences' Q4 2024 earnings at ($1.75) EPS, Q1 2025 earnings at ($1.95) EPS, Q2 2025 earnings at ($2.03) EPS, Q3 2025 earnings at ($2.06) EPS, Q4 2025 earnings at ($1.98) EPS, FY2025 earnings at ($8.03) EPS, FY2026 earnings at ($10.85) EPS, FY2027 earnings at ($14.69) EPS and FY2028 earnings at ($15.00) EPS.

Separately, Jefferies Financial Group raised Assembly Biosciences from a "hold" rating to a "buy" rating and lifted their price target for the stock from $2.00 to $35.00 in a research note on Friday, September 20th.

Assembly Biosciences Price Performance

NASDAQ ASMB traded up $0.63 on Thursday, reaching $17.33. The company's stock had a trading volume of 12,429 shares, compared to its average volume of 23,509. The firm's 50 day moving average is $16.74 and its two-hundred day moving average is $15.29. Assembly Biosciences has a twelve month low of $7.69 and a twelve month high of $19.93.

Hedge Funds Weigh In On Assembly Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Armistice Capital LLC bought a new position in shares of Assembly Biosciences during the 2nd quarter worth approximately $6,421,000. Acadian Asset Management LLC grew 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 worth $184,000 after purchasing an additional 7,690 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Assembly Biosciences by 39.2% in the second 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, FMR LLC boosted its holdings in shares of Assembly Biosciences by 29.7% in the 3rd quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company's stock worth $240,000 after acquiring an additional 3,635 shares in the last quarter. 19.92% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Alexander Schornstein acquired 10,000 shares of the stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $14.58 per share, for a total transaction of $145,800.00. Following the completion of the purchase, the insider now owns 703,113 shares in the company, valued at approximately $10,251,387.54. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.10% of the stock is owned by insiders.

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.