Assembly Biosciences, Inc. (NASDAQ:ASMB) Short Interest Down 17.4% in March

Assembly Biosciences, Inc. (NASDAQ:ASMB) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 17,100 shares, a drop of 17.4% from the March 15th total of 20,700 shares. Based on an average daily trading volume, of 28,700 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.4% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com downgraded Assembly Biosciences from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Guggenheim initiated coverage on Assembly Biosciences in a research note on Tuesday, March 25th. They issued a “buy” rating and a $31.00 price objective for the company. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Assembly Biosciences in a report on Monday, March 24th.

Assembly Biosciences Stock Performance

ASMB traded up $0.04 during trading on Tuesday, reaching $9.98. The company had a trading volume of 3,422 shares, compared to its average volume of 28,019. The firm’s 50-day simple moving average is $10.83 and its 200 day simple moving average is $14.02. Assembly Biosciences has a 12-month low of $7.75 and a 12-month high of $19.93. The company has a market cap of $74.84 million, a price-to-earnings ratio of -1.48 and a beta of 0.65.

Assembly Biosciences (NASDAQ:ASMB) last posted its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $7.36 million for the quarter, compared to analyst estimates of $7.05 million. On average, sell-side analysts expect that Assembly Biosciences will post -6.87 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Assembly Biosciences by 5,137.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,509 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 3,442 shares during the last quarter. Palumbo Wealth Management LLC bought a new position in Assembly Biosciences during the fourth quarter valued at $180,000. Marshall Wace LLP lifted 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 valued at $234,000 after buying an additional 2,098 shares in the last quarter. FMR LLC grew its holdings in Assembly Biosciences by 29.7% during the 3rd quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 3,635 shares in the last quarter. Finally, Man Group plc purchased a new position in Assembly Biosciences in the 4th quarter worth approximately $309,000. Institutional investors and hedge funds own 19.92% of the company’s stock.

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.