Assembly Biosciences (NASDAQ:ASMB) Sees Large Volume Increase – Here’s Why

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB) saw unusually-high trading volume on Tuesday . 884,983 shares traded hands during trading, an increase of 378% from the previous session’s volume of 185,122 shares.The stock last traded at $25.5190 and had previously closed at $25.44.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ASMB shares. Guggenheim reaffirmed a “buy” rating and set a $43.00 target price on shares of Assembly Biosciences in a research report on Thursday, May 28th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Assembly Biosciences in a report on Tuesday, August 18th. Mizuho set a $53.00 price objective on shares of Assembly Biosciences in a research report on Tuesday, September 1st. UBS Group initiated coverage on shares of Assembly Biosciences in a research note on Tuesday, September 1st. They set a “buy” rating and a $52.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Assembly Biosciences in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.60.

Assembly Biosciences Trading Up 0.3%

The firm has a market cap of $519.57 million, a P/E ratio of 25.01 and a beta of 1.13. The business’s fifty day simple moving average is $29.52 and its 200-day simple moving average is $28.23.

Assembly Biosciences (NASDAQ:ASMB) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.60 million. As a group, research analysts expect that Assembly Biosciences, Inc. will post 2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Assembly Biosciences

Hedge funds have recently bought and sold shares of the company. Seven Fleet Capital Management LP increased its holdings in shares of 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 worth $11,903,000 after purchasing an additional 377,000 shares during the period. Stempoint Capital LP grew its position in Assembly Biosciences by 18.3% during the first quarter. Stempoint Capital LP now owns 185,435 shares of the biopharmaceutical company’s stock worth $5,146,000 after buying an additional 28,707 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Assembly Biosciences in the 2nd quarter valued at about $660,000. Eversept Partners LP purchased a new stake in shares of Assembly Biosciences in the 4th quarter valued at about $5,431,000. Finally, 683 Capital Management LLC bought a new stake in shares of Assembly Biosciences during the 4th quarter valued at about $948,000. Hedge funds and other institutional investors own 19.92% of the company’s stock.

About Assembly Biosciences

Assembly Biosciences, Inc is a clinical-stage biotechnology company developing oral therapies for serious viral infections. Its research programs have focused primarily on chronic hepatitis B virus (HBV) infection and herpesvirus diseases, with the goal of addressing areas where existing treatments may not provide a functional cure or durable disease control.

The company’s pipeline includes investigational HBV capsid assembly modulators, including ABI-4334, designed to interfere with key stages of the HBV lifecycle.