Assembly Biosciences (NASDAQ:ASMB) Shares Down 8.3% – Here’s What Happened

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB) were down 8.3% during trading on Monday . The company traded as low as $34.50 and last traded at $34.6650. Approximately 51,639 shares traded hands during trading, a decline of 28% from the average daily volume of 71,861 shares. The stock had previously closed at $37.79.

Analysts Set New Price Targets

Several equities analysts have commented on ASMB shares. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Assembly Biosciences in a report on Tuesday, October 14th. Citigroup began coverage on shares of Assembly Biosciences in a report on Wednesday, September 24th. They set an “outperform” rating for the company. Zacks Research upgraded shares of Assembly Biosciences to a “hold” rating in a research note on Tuesday, August 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Assembly Biosciences in a research report on Wednesday, October 8th. Finally, Guggenheim upped their target price on Assembly Biosciences from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Six 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Assembly Biosciences Trading Up 2.5%

The stock has a market cap of $551.09 million, a P/E ratio of -7.30 and a beta of 1.14. The stock has a 50 day simple moving average of $30.72 and a 200 day simple moving average of $23.58.

Assembly Biosciences (NASDAQ:ASMB) last released its earnings results on Monday, November 10th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.22). Assembly Biosciences had a negative return on equity of 59.01% and a negative net margin of 103.65%.The company had revenue of $10.79 million for the quarter, compared to analyst estimates of $7.46 million. Equities analysts anticipate that Assembly Biosciences, Inc. will post -6.87 earnings per share for the current year.

Hedge Funds Weigh In On Assembly Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in ASMB. Farallon Capital Management LLC bought a new stake in shares of Assembly Biosciences during the 3rd quarter worth approximately $31,426,000. RA Capital Management L.P. acquired a new position in Assembly Biosciences during the third quarter valued at approximately $26,122,000. Commodore Capital LP bought a new stake in Assembly Biosciences during the third quarter worth $25,600,000. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 248,287 shares in the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of Assembly Biosciences in the 3rd quarter valued at $6,425,000. 19.92% of the stock is currently owned by institutional investors and hedge funds.

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.