Assembly Biosciences (NASDAQ:ASMB) Stock Gets Downgrade from Zacks Research

Assembly Biosciences (NASDAQ:ASMB) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Several other research analysts also recently issued reports on ASMB. Mizuho set a $53.00 price objective on Assembly Biosciences in a research note on Tuesday, September 1st. UBS Group dropped their price objective on shares of Assembly Biosciences from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assembly Biosciences in a research report on Thursday, October 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Assembly Biosciences in a research report on Tuesday, August 18th. Four investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.50.

Assembly Biosciences Stock Down 2.0%

Shares of ASMB stock opened at $21.35 on Monday. Assembly Biosciences has a twelve month low of $19.20 and a twelve month high of $39.71. The stock’s fifty day simple moving average is $24.14 and its 200 day simple moving average is $26.93. The firm has a market capitalization of $434.69 million, a P/E ratio of 20.93 and a beta of 1.26.

Assembly Biosciences (NASDAQ:ASMB) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.52. Assembly Biosciences had a negative return on equity of 0.02% and a negative net margin of 0.06%. The firm had revenue of $13.37 million during the quarter, compared to the consensus estimate of $8.60 million. As a group, equities research analysts expect that Assembly Biosciences will post 2.28 EPS for the current fiscal year.

Insider Activity at Assembly Biosciences

In related news, insider Nicole S. White sold 2,593 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 59,257 shares of the company’s stock, valued at $1,162,622.34. This trade represents a 4.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jason A. Okazaki sold 6,202 shares of Assembly Biosciences stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $19.62, for a total value of $121,683.24. Following the transaction, the chief executive officer directly owned 195,532 shares in the company, valued at $3,836,337.84. The trade was a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 12,115 shares of company stock worth $237,696 over the last three months. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Assembly Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP raised its position in shares of Assembly Biosciences by 88.5% during the second quarter. Engineers Gate Manager LP now owns 17,766 shares of the biopharmaceutical company’s stock worth $488,000 after acquiring an additional 8,343 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Assembly Biosciences by 43.7% in the second quarter. Squarepoint Ops LLC now owns 34,214 shares of the biopharmaceutical company’s stock worth $940,000 after acquiring an additional 10,410 shares during the period. Seven Fleet Capital Management LP boosted its holdings in Assembly Biosciences by 671.5% in the second quarter. Seven Fleet Capital Management LP now owns 433,147 shares of the biopharmaceutical company’s stock valued at $11,903,000 after acquiring an additional 377,000 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Assembly Biosciences in the second quarter valued at approximately $660,000. Finally, Bank of America Corp DE boosted its holdings in Assembly Biosciences by 113.3% in the first quarter. Bank of America Corp DE now owns 10,902 shares of the biopharmaceutical company’s stock valued at $303,000 after acquiring an additional 5,792 shares during the last quarter. Institutional investors and hedge funds own 19.92% of the company’s stock.

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.