Assembly Biosciences (NASDAQ:ASMB) Coverage Initiated at Guggenheim

Research analysts at Guggenheim initiated coverage on shares of Assembly Biosciences (NASDAQ:ASMB) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $31.00 price target on the biopharmaceutical company’s stock. Guggenheim’s price objective would suggest a potential upside of 178.78% from the stock’s current price.

A number of other research firms have also issued reports on ASMB. StockNews.com lowered Assembly Biosciences from a “buy” rating to a “hold” rating in a research note on Monday. HC Wainwright reaffirmed a “neutral” rating on shares of Assembly Biosciences in a report on Monday.

Assembly Biosciences Stock Up 1.0 %

ASMB opened at $11.12 on Tuesday. The firm has a 50-day moving average price of $12.84 and a 200-day moving average price of $15.09. Assembly Biosciences has a twelve month low of $10.27 and a twelve month high of $19.93. The company has a market capitalization of $70.68 million, a price-to-earnings ratio of -1.65 and a beta of 0.62.

Assembly Biosciences (NASDAQ:ASMB) last released its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.75) by $0.18. Assembly Biosciences had a negative net margin of 144.05% and a negative return on equity of 121.46%. The business had revenue of $7.36 million during the quarter, compared to analyst estimates of $7.05 million. On average, sell-side analysts expect that Assembly Biosciences will post -6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Assembly Biosciences

In other Assembly Biosciences news, Director Michael Houghton bought 3,202 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $15.61 per share, for a total transaction of $49,983.22. Following the purchase, the director now directly owns 3,202 shares of the company’s stock, valued at $49,983.22. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ASMB. FMR LLC raised its stake in Assembly Biosciences by 29.7% in the third quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company’s stock valued at $240,000 after purchasing an additional 3,635 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Assembly Biosciences by 5,137.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,509 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 3,442 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Assembly Biosciences during the 4th quarter valued at $994,000. Palumbo Wealth Management LLC bought a new stake in shares of Assembly Biosciences during the 4th quarter worth $180,000. Finally, Monimus Capital Management LP purchased a new position in Assembly Biosciences in the fourth quarter worth $664,000. Hedge funds and other institutional investors own 19.92% of the company’s stock.

Assembly Biosciences Company Profile

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.