Assembly Biosciences, Inc. (NASDAQ:ASMB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Assembly Biosciences, Inc. (NASDAQ:ASMB) has received a consensus rating of "Moderate Buy" from five analysts, with an average 1-year price target of $41.25.
• Institutional investors have shown increasing interest, with notable acquisitions such as a new position from American Century Companies worth $113,000 and a 57.4% stake increase by Palumbo Wealth Management.
• During recent trading, ASMB stock rose by 3.2% to reach $26.83, marking a significant gain compared to its 52-week low of $7.75.

Shares of Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) have earned an average rating of "Moderate Buy" from the five analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $41.25.

ASMB has been the topic of a number of analyst reports. Citizens Jmp initiated coverage on shares of Assembly Biosciences in a research report on Wednesday. They issued a "mkt outperform" rating and a $38.00 price objective on the stock. Zacks Research raised shares of Assembly Biosciences to a "hold" rating in a report on Tuesday, August 19th. JMP Securities started coverage on shares of Assembly Biosciences in a research report on Wednesday. They set a "market outperform" rating and a $38.00 price objective for the company. Guggenheim increased their target price on shares of Assembly Biosciences from $31.00 to $39.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Finally, Citigroup started coverage on shares of Assembly Biosciences in a report on Wednesday. They issued an "outperform" rating for the company.

Hedge Funds Weigh In On Assembly Biosciences

A number of institutional investors have recently modified their holdings of ASMB. American Century Companies Inc. acquired a new position in shares of Assembly Biosciences during the 1st quarter worth $113,000. Man Group plc purchased a new position in Assembly Biosciences in the 4th quarter worth approximately $309,000. Palumbo Wealth Management LLC boosted its stake in shares of Assembly Biosciences by 57.4% during the 1st quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company's stock valued at $172,000 after buying an additional 6,559 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Assembly Biosciences by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company's stock valued at $925,000 after acquiring an additional 3,312 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Assembly Biosciences by 42.1% during the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company's stock valued at $219,000 after acquiring an additional 6,823 shares in the last quarter. 19.92% of the stock is owned by institutional investors and hedge funds.

Assembly Biosciences Trading Up 3.2%

ASMB stock traded up $0.84 during midday trading on Wednesday, reaching $26.83. 26,242 shares of the company's stock traded hands, compared to its average volume of 56,017. The stock's 50-day moving average is $22.38 and its 200 day moving average is $16.46. The stock has a market cap of $205.84 million, a P/E ratio of -4.76 and a beta of 0.67. Assembly Biosciences has a 52-week low of $7.75 and a 52-week high of $27.17.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.73) by $0.40. Assembly Biosciences had a negative net margin of 117.20% and a negative return on equity of 149.01%. The business had revenue of $9.63 million during the quarter, compared to analyst estimates of $5.30 million. As a group, research analysts expect that Assembly Biosciences will post -6.87 EPS for the current fiscal year.

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.

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