Assembly Biosciences (NASDAQ:ASMB) Releases Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Assembly Biosciences (NASDAQ:ASMB) posted its earnings results on Monday. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.22), Zacks reports. Assembly Biosciences had a negative net margin of 117.20% and a negative return on equity of 149.01%.

Assembly Biosciences Stock Performance

Shares of NASDAQ ASMB traded up $0.87 during trading on Monday, hitting $32.07. 71,897 shares of the company were exchanged, compared to its average volume of 67,123. The company has a fifty day moving average price of $26.30 and a 200-day moving average price of $20.71. Assembly Biosciences has a 12-month low of $7.75 and a 12-month high of $32.68. The firm has a market capitalization of $246.04 million, a PE ratio of -5.75 and a beta of 0.60.

Analyst Ratings Changes

ASMB has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Assembly Biosciences in a research report on Tuesday, October 14th. Guggenheim raised their price target on shares of Assembly Biosciences from $31.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Citigroup assumed coverage on Assembly Biosciences in a report on Wednesday, September 24th. They set an “outperform” rating for the company. JMP Securities initiated coverage on shares of Assembly Biosciences in a report on Wednesday, September 24th. They issued a “market outperform” rating and a $38.00 price target on the stock. Finally, Zacks Research upgraded Assembly Biosciences to a “hold” rating in a research report on Tuesday, August 19th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Assembly Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Institutional Trading of Assembly Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Assembly Biosciences by 6.9% in the second quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company’s stock worth $925,000 after acquiring an additional 3,312 shares during the period. Acadian Asset Management LLC increased its position in shares of Assembly Biosciences by 42.1% during the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 6,823 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Assembly Biosciences by 97.8% in the 3rd quarter. Vanguard Group Inc. now owns 502,112 shares of the biopharmaceutical company’s stock valued at $12,854,000 after buying an additional 248,287 shares during the period. Institutional investors and hedge funds 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.