Assembly Biosciences (NASDAQ:ASMB) Stock Rating Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Assembly Biosciences (NASDAQ:ASMB) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Mizuho set a $53.00 price target on shares of Assembly Biosciences in a research report on Tuesday, September 1st. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Assembly Biosciences in a research note on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Assembly Biosciences in a report on Thursday, October 15th. Finally, UBS Group decreased their price objective on Assembly Biosciences from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Assembly Biosciences Stock Down 2.0%

Shares of ASMB opened at $21.35 on Monday. The stock has a market capitalization of $434.69 million, a P/E ratio of 20.93 and a beta of 1.26. Assembly Biosciences has a twelve month low of $19.20 and a twelve month high of $39.71. The company has a 50 day moving average of $24.14 and a 200-day moving average of $26.93.

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

Insider Transactions at Assembly Biosciences

In other news, CEO Jason Okazaki sold 6,202 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $19.62, for a total value of $121,683.24. Following the completion of the sale, the chief executive officer owned 195,532 shares of the company’s stock, valued at approximately $3,836,337.84. This represents a 3.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anuj Gaggar sold 2,593 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $19.62, for a total value of $50,874.66. Following the completion of the sale, the insider directly owned 53,800 shares of the company’s stock, valued at approximately $1,055,556. The trade was a 4.60% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 12,115 shares of company stock worth $237,696 in the last 90 days. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Assembly Biosciences

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Assembly Biosciences by 113.3% in the 1st quarter. Bank of America Corp DE now owns 10,902 shares of the biopharmaceutical company’s stock valued at $303,000 after acquiring an additional 5,792 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Assembly Biosciences by 69.4% in the 1st quarter. Renaissance Technologies LLC now owns 15,651 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 6,411 shares during the period. Engineers Gate Manager LP raised its holdings in shares of Assembly Biosciences by 88.5% in the 2nd quarter. Engineers Gate Manager LP now owns 17,766 shares of the biopharmaceutical company’s stock valued at $488,000 after purchasing an additional 8,343 shares during the period. Bank of New York Mellon Corp acquired a new stake in Assembly Biosciences in the 2nd quarter valued at about $660,000. Finally, Squarepoint Ops LLC lifted its stake in Assembly Biosciences by 43.7% in the 2nd quarter. Squarepoint Ops LLC now owns 34,214 shares of the biopharmaceutical company’s stock valued at $940,000 after purchasing an additional 10,410 shares during the last quarter. Institutional investors and hedge funds own 19.92% of the company’s stock.

Assembly Biosciences Company Profile

Assembly Biosciences is a clinical-stage biotechnology company focused on developing oral antiviral therapies for viral infections. Its research programs target hepatitis B virus (HBV) and herpesviruses, including herpes simplex virus. The company’s pipeline includes investigational antiviral candidates designed to interfere with key steps in viral replication. Assembly has also worked with Gilead Sciences on antiviral development, including programs targeting herpesviruses. Its therapies remain under investigation and are not approved medicines.