Assembly Biosciences (NASDAQ:ASMB) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Assembly Biosciences from “strong buy” to “hold.” Despite the downgrade, analyst consensus remained “Moderate Buy,” with a $46.50 average price target.
• Shares opened at $21.35 and were down 2.0%; the stock’s 12-month range was $19.20 to $39.71.
• In its latest reported quarter, Assembly posted a loss of $0.20 per share, better than the $0.72 loss analysts expected, and revenue of $13.37 million versus an $8.60 million estimate.

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

Several other research firms have also issued reports on ASMB. Mizuho set a $53.00 price target on Assembly Biosciences in a report on Tuesday, September 1st. UBS Group reduced their price target 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. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Assembly Biosciences in a research note on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Assembly Biosciences in a research report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.50.

Assembly Biosciences Trading Down 2.0%

Shares of ASMB stock opened at $21.35 on Monday. Assembly Biosciences has a 12 month low of $19.20 and a 12 month high of $39.71. The stock has a market cap of $434.69 million, a P/E ratio of 20.93 and a beta of 1.26. The company has a 50 day simple moving average of $24.14 and a two-hundred day simple moving average of $26.93.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.52. Assembly Biosciences had a negative net margin of 0.06% and a negative return on equity of 0.02%. The business had revenue of $13.37 million for the quarter, compared to analysts' expectations of $8.60 million. As a group, equities analysts forecast that Assembly Biosciences will post 2.28 earnings per share for the current year.

Insider Activity

In related news, CEO Jason A. Okazaki sold 6,202 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $19.62, for a total transaction of $121,683.24. Following the completion of the transaction, the chief executive officer directly owned 195,532 shares of the company's stock, valued at approximately $3,836,337.84. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anuj Gaggar sold 2,593 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $19.62, for a total transaction of $50,874.66. Following the transaction, the insider directly owned 53,800 shares of the company's stock, valued at $1,055,556. The trade was a 4.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 12,115 shares of company stock worth $237,696 over the last quarter. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASMB. 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 last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Assembly Biosciences in the second quarter worth about $660,000. Stempoint Capital LP lifted its position in shares of Assembly Biosciences by 18.3% in 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. Janus Henderson Group PLC lifted its position in shares of Assembly Biosciences by 1.4% in the first quarter. Janus Henderson Group PLC now owns 849,309 shares of the biopharmaceutical company's stock worth $23,479,000 after buying an additional 11,384 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Assembly Biosciences by 4.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 39,446 shares of the biopharmaceutical company's stock valued at $1,095,000 after buying an additional 1,634 shares during the last quarter. Institutional investors 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.

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