Assembly Biosciences, Inc. (NASDAQ:ASMB) Short Interest Update

Key Points

• Assembly Biosciences experienced a dramatic increase in short interest, soaring by 1,699.7% from July to August, with a total of 530,900 shares shorted as of August 15th.
• The company reported a quarterly earnings per share (EPS) of ($1.33), exceeding the market consensus estimate of ($1.73), alongside achieving a revenue of $9.63 million for the quarter.
• Analysts have a "Moderate Buy" rating for Assembly Biosciences, with an average price target of $38.67, reflecting confidence in the stock's potential growth.

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) was the target of a large growth in short interest in August. As of August 15th, there was short interest totaling 530,900 shares, agrowthof1,699.7% from the July 31st total of 29,500 shares. Based on an average daily trading volume, of 64,200 shares, the short-interest ratio is currently 8.3 days. Currently,7.2% of the shares of the stock are short sold. Currently,7.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 64,200 shares, the short-interest ratio is currently 8.3 days.

Hedge Funds Weigh In On Assembly Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASMB. Geode Capital Management LLC grew its holdings in Assembly Biosciences by 6.9% in the second quarter. Geode Capital Management LLC now owns 51,015 shares of the biopharmaceutical company's stock valued at $925,000 after purchasing an additional 3,312 shares during the period. Acadian Asset Management LLC raised its holdings 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 purchasing an additional 6,823 shares during the period. Man Group plc acquired a new stake in shares of Assembly Biosciences during the fourth quarter worth $309,000. Palumbo Wealth Management LLC grew its position in shares of Assembly Biosciences by 3.8% during the second quarter. Palumbo Wealth Management LLC now owns 18,667 shares of the biopharmaceutical company's stock worth $338,000 after acquiring an additional 681 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Assembly Biosciences by 16.5% in the 4th quarter. Marshall Wace LLP now owns 14,823 shares of the biopharmaceutical company's stock valued at $234,000 after buying an additional 2,098 shares in the last quarter. Institutional investors and hedge funds own 19.92% of the company's stock.

Assembly Biosciences Trading Up 2.2%

Shares of NASDAQ ASMB traded up $0.51 during trading hours on Friday, reaching $23.82. The stock had a trading volume of 235,569 shares, compared to its average volume of 162,835. Assembly Biosciences has a fifty-two week low of $7.75 and a fifty-two week high of $27.17. The firm has a market cap of $182.70 million, a price-to-earnings ratio of -4.27 and a beta of 0.68. The firm has a 50-day moving average of $21.32 and a 200-day moving average of $15.59.

Assembly Biosciences (NASDAQ:ASMB - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($1.33) EPS for the quarter, topping the consensus estimate of ($1.73) by $0.40. The company had revenue of $9.63 million during the quarter, compared to analysts' expectations of $5.30 million. Assembly Biosciences had a negative net margin of 117.20% and a negative return on equity of 149.01%. On average, equities analysts predict that Assembly Biosciences will post -6.87 EPS for the current year.

Wall Street Analyst Weigh In

ASMB has been the subject of several research reports. HC Wainwright started coverage on shares of Assembly Biosciences in a research report on Monday, August 18th. They issued a "buy" rating and a $50.00 price target for the company. Zacks Research upgraded shares of Assembly Biosciences to a "hold" rating in a research report on Tuesday, August 19th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Assembly Biosciences has an average rating of "Moderate Buy" and a consensus price target of $38.67.

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.