Assembly Biosciences (NASDAQ:ASMB) Coverage Initiated by Analysts at Guggenheim

Research analysts at Guggenheim initiated coverage on shares of Assembly Biosciences (NASDAQ:ASMB) in a 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 points to a potential upside of 178.78% from the company’s current price.

A number of other equities research analysts have also commented on ASMB. HC Wainwright reissued a “neutral” rating on shares of Assembly Biosciences in a research report on Monday. StockNews.com downgraded shares of Assembly Biosciences from a “buy” rating to a “hold” rating in a report on Monday.

Assembly Biosciences Price Performance

NASDAQ:ASMB opened at $11.12 on Tuesday. Assembly Biosciences has a one year low of $10.27 and a one year high of $19.93. The company has a market cap of $70.68 million, a PE ratio of -1.65 and a beta of 0.62. The firm has a 50-day moving average of $12.84 and a 200-day moving average of $15.09.

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

Insider Activity at Assembly Biosciences

In other Assembly Biosciences news, Director Michael Houghton acquired 3,202 shares of the business’s stock in a transaction on Monday, December 30th. The shares were acquired at an average price of $15.61 per share, with a total value of $49,983.22. Following the completion of the transaction, the director now owns 3,202 shares in the company, valued at approximately $49,983.22. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Assembly Biosciences

A number of hedge funds have recently made changes to their positions in ASMB. JPMorgan Chase & Co. increased its holdings in Assembly Biosciences by 5,137.3% during the third 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. Palumbo Wealth Management LLC bought a new position in shares of Assembly Biosciences during the 4th quarter valued at approximately $180,000. Marshall Wace LLP increased its stake in shares of Assembly Biosciences by 16.5% during the 4th quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company’s stock worth $234,000 after purchasing an additional 2,098 shares during the last quarter. FMR LLC raised 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 purchasing an additional 3,635 shares during the period. Finally, Man Group plc purchased a new position in Assembly Biosciences in the fourth quarter valued at approximately $309,000. 19.92% of the stock is currently owned by institutional investors.

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.