Assembly Biosciences Inc. (NASDAQ:ASMB) shares shot up 8% during mid-day trading on Friday . The stock traded as high as $6.51 and last traded at $6.50, with a volume of 52,032 shares. The stock had previously closed at $6.02.

Separately, William Blair began coverage on shares of Assembly Biosciences in a research note on Friday. They set an “outperform” rating on the stock.

The firm’s market cap is $112.65 million. The firm has a 50-day moving average of $5.95 and a 200-day moving average of $5.56.

An institutional investor recently raised its position in Assembly Biosciences stock. Jennison Associates LLC raised its stake in Assembly Biosciences Inc. (NASDAQ:ASMB) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,025,870 shares of the biopharmaceutical company’s stock after buying an additional 6,486 shares during the period. Jennison Associates LLC owned 11.76% of Assembly Biosciences worth $15,214,000 at the end of the most recent reporting period.

Assembly Biosciences, Inc (Assembly) is a biopharmaceutical company. The Company is engaged in the development of oral therapies for the cure of intractable infectious diseases, focusing on hepatitis B virus (HBV) and clostridium (C.) difficile-associated infections (CDAD). The target of Assembly’s lead program is a clinical cure for HBV, for , which it is developing a series of compounds, known as core protein allosteric modulators (CpAMs).

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