Assembly Biosciences (NASDAQ:ASMB) Announces Earnings Results

Assembly Biosciences (NASDAQ:ASMB) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.27), FiscalAI reports. Assembly Biosciences had a negative net margin of 0.06% and a negative return on equity of 0.02%. The firm had revenue of $2.96 million for the quarter, compared to the consensus estimate of $9.07 million.

Assembly Biosciences Trading Down 9.8%

ASMB traded down $2.19 on Thursday, hitting $20.18. 499,584 shares of the stock traded hands, compared to its average volume of 195,617. Assembly Biosciences has a 52 week low of $19.20 and a 52 week high of $39.71. The firm has a market capitalization of $410.88 million, a PE ratio of 19.78 and a beta of 1.26. The business has a fifty day moving average price of $23.88 and a two-hundred day moving average price of $26.91.

Insider Buying and Selling at Assembly Biosciences

In other news, insider Anuj Gaggar sold 2,593 shares of Assembly Biosciences stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $19.62, for a total transaction of $50,874.66. Following the sale, the insider owned 53,800 shares of the company’s stock, valued at approximately $1,055,556. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Nicole S. White sold 2,593 shares of the company’s stock in a transaction 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 transaction, the insider owned 59,257 shares of the company’s stock, valued at $1,162,622.34. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,115 shares of company stock valued at $237,696 in the last quarter. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ASMB. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Assembly Biosciences in a research report on Tuesday, August 18th. Mizuho set a $53.00 target price on Assembly Biosciences in a report on Tuesday, September 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Assembly Biosciences in a research report on Thursday, October 15th. Zacks Research lowered Assembly Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, UBS Group reduced their price objective on Assembly Biosciences from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.50.

About Assembly Biosciences

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.