Assembly Biosciences (NASDAQ:ASMB) Sees Large Volume Increase – Here’s Why

Assembly Biosciences, Inc. (NASDAQ:ASMB) saw unusually-strong trading volume on Tuesday . 884,983 shares traded hands during mid-day trading, an increase of 378% from the previous session’s volume of 185,122 shares.The stock last traded at $25.5190 and had previously closed at $25.44.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ASMB shares. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Assembly Biosciences in a research note on Tuesday, August 18th. Mizuho set a $53.00 price target on Assembly Biosciences in a research report on Tuesday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Assembly Biosciences in a report on Friday, July 17th. UBS Group initiated coverage on shares of Assembly Biosciences in a report on Tuesday, September 1st. They set a “buy” rating and a $52.00 target price for the company. Finally, Guggenheim restated a “buy” rating and set a $43.00 price target on shares of Assembly Biosciences in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.50.

Assembly Biosciences Stock Performance

The firm’s 50-day moving average price is $29.44 and its two-hundred day moving average price is $28.17. The stock has a market cap of $488.03 million, a price-to-earnings ratio of 23.50 and a beta of 1.13.

Assembly Biosciences (NASDAQ:ASMB) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.52. Assembly Biosciences had a negative net margin of 0.06% and a negative return on equity of 0.02%. The business had revenue of $13.37 million during the quarter, compared to analysts’ expectations of $8.60 million. As a group, sell-side analysts expect that Assembly Biosciences, Inc. will post 2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Assembly Biosciences

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its stake in Assembly Biosciences by 1.4% during the first quarter. Janus Henderson Group PLC now owns 849,309 shares of the biopharmaceutical company’s stock worth $23,479,000 after purchasing an additional 11,384 shares in the last quarter. Seven Fleet Capital Management LP raised its holdings in shares of Assembly Biosciences by 671.5% in the 2nd quarter. Seven Fleet Capital Management LP now owns 433,147 shares of the biopharmaceutical company’s stock valued at $11,903,000 after buying an additional 377,000 shares during the period. Stempoint Capital LP lifted its stake in Assembly Biosciences by 18.3% during the 1st quarter. Stempoint Capital LP now owns 185,435 shares of the biopharmaceutical company’s stock worth $5,146,000 after acquiring an additional 28,707 shares in the last quarter. Eversept Partners LP purchased a new position in Assembly Biosciences during the 4th quarter valued at about $5,431,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Assembly Biosciences by 4.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 39,446 shares of the biopharmaceutical company’s stock valued at $1,095,000 after acquiring an additional 1,634 shares during the period. Hedge funds and other institutional investors own 19.92% of the company’s stock.

Assembly Biosciences Company Profile

Assembly Biosciences, Inc is a clinical-stage biotechnology company developing oral therapies for serious viral infections. Its research programs have focused primarily on chronic hepatitis B virus (HBV) infection and herpesvirus diseases, with the goal of addressing areas where existing treatments may not provide a functional cure or durable disease control.

The company’s pipeline includes investigational HBV capsid assembly modulators, including ABI-4334, designed to interfere with key stages of the HBV lifecycle.