Assembly Biosciences, Inc. (NASDAQ:ASMB) Sees Significant Increase in Short Interest

Key Points

• Assembly Biosciences, Inc. experienced a significant increase in short interest, rising by 71.6% in August to reach 911,200 shares, equating to 35.3% of the company's stock being short sold.
• Institutional investors have shown interest, with 19.92% of the stock now owned by these entities, including notable increases from Acadian Asset Management and Palumbo Wealth Management.
• The company's stock price has seen a decline of 3.3% recently, with current trading values around $21.85 per share and a consensus target price of $41.33 from analysts.

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 911,200 shares, an increase of 71.6% from the August 15th total of 530,900 shares. Based on an average daily volume of 86,900 shares, the days-to-cover ratio is presently 10.5 days. Currently, 35.3% of the shares of the company are sold short. Currently, 35.3% of the shares of the company are sold short. Based on an average daily volume of 86,900 shares, the days-to-cover ratio is presently 10.5 days.

Analyst Ratings Changes

Several research firms have recently issued reports on ASMB. Zacks Research upgraded shares of Assembly Biosciences to a "hold" rating in a report on Tuesday, August 19th. HC Wainwright began coverage on shares of Assembly Biosciences in a report on Monday, August 18th. They set a "buy" rating and a $50.00 price objective on the stock. Finally, Guggenheim boosted their price objective on shares of Assembly Biosciences from $31.00 to $39.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Assembly Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $41.33.

Assembly Biosciences Price Performance

Shares of Assembly Biosciences stock traded up $2.19 during trading on Friday, hitting $24.46. 753,068 shares of the company's stock traded hands, compared to its average volume of 129,385. The firm's fifty day moving average price is $22.11 and its 200 day moving average price is $16.23. Assembly Biosciences has a twelve month low of $7.75 and a twelve month high of $27.17. The company has a market cap of $187.61 million, a PE ratio of -4.38 and a beta of 0.68.

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

Hedge Funds Weigh In On Assembly Biosciences

Institutional investors have recently modified their holdings of the stock. Man Group plc bought a new stake in shares of Assembly Biosciences during the fourth quarter worth approximately $309,000. American Century Companies Inc. bought a new stake in shares of Assembly Biosciences during the first quarter worth approximately $113,000. Acadian Asset Management LLC raised its stake in shares of Assembly Biosciences by 42.1% during the first quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company's stock worth $219,000 after buying an additional 6,823 shares during the last quarter. Palumbo Wealth Management LLC raised its stake in shares of Assembly Biosciences by 57.4% during the first quarter. Palumbo Wealth Management LLC now owns 17,986 shares of the biopharmaceutical company's stock worth $172,000 after buying an additional 6,559 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Assembly Biosciences by 6.9% during the second quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company's stock worth $925,000 after buying an additional 3,312 shares during the last quarter. 19.92% of the stock is owned by institutional investors.

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.