Assembly Biosciences (NASDAQ:ASMB) Insider Sells 727 Shares of Company Stock

Key Points

• Insider Jeanette Bjorkquist sold 727 shares at an average $19.62, worth about $14,264, to cover tax withholding on vested equity awards. She retained 17,673 shares after the sale.
• ASMB shares traded at $19.92 in the report, near the stock’s one-year low of $19.25 and below its 50- and 200-day moving averages.
• Analysts’ consensus rating is Moderate Buy, with a $46.50 average price target; UBS lowered its target to $48 while maintaining a Buy rating.

Assembly Biosciences, Inc. (NASDAQ:ASMB - Get Free Report) insider Jeanette Bjorkquist sold 727 shares of the business's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $19.62, for a total value of $14,263.74. Following the completion of the sale, the insider directly owned 17,673 shares of the company's stock, valued at $346,744.26. The trade was a 3.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Assembly Biosciences Price Performance

Shares of ASMB traded up $0.41 during midday trading on Tuesday, hitting $19.92. 170,887 shares of the company traded hands, compared to its average volume of 191,131. The firm has a market cap of $405.59 million, a P/E ratio of 19.53 and a beta of 1.26. The stock has a 50-day moving average of $25.84 and a 200-day moving average of $27.18. Assembly Biosciences, Inc. has a one year low of $19.25 and a one year high of $39.71.

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

Assembly Biosciences News Summary

Here are the key news stories impacting Assembly Biosciences this week:

• Positive Sentiment: UBS cut its price target to $48 from $52 but maintained its Buy rating. The revised target remains well above the share price cited in the report, suggesting the firm sees substantial potential upside. UBS price target and rating
• Neutral Sentiment: The reported sales by CEO Jason Okazaki and three other insiders were described as covering tax withholding obligations tied to equity vesting, which makes them less clearly bearish than discretionary sales. CEO SEC filing Anuj Gaggar SEC filing Nicole White SEC filing Jeanette Bjorkquist SEC filing
• Neutral Sentiment: Assembly Biosciences said management will participate in investor conferences in November; the announcement did not include new business or clinical updates. Investor conference announcement

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Zacks Research raised shares of Assembly Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 20th. UBS Group decreased their target price on shares of Assembly Biosciences from $52.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday. HC Wainwright reissued a "buy" rating and set a $50.00 price target on shares of Assembly Biosciences in a research report on Tuesday, August 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Assembly Biosciences in a research report on Thursday, October 15th. Finally, Mizuho set a $53.00 price objective on shares of Assembly Biosciences in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $46.50.

Institutional Trading of Assembly Biosciences

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP boosted its stake in shares of Assembly Biosciences by 88.5% in the 2nd quarter. Engineers Gate Manager LP now owns 17,766 shares of the biopharmaceutical company's stock worth $488,000 after buying an additional 8,343 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Assembly Biosciences by 43.7% in the second quarter. Squarepoint Ops LLC now owns 34,214 shares of the biopharmaceutical company's stock valued at $940,000 after purchasing an additional 10,410 shares during the period. Seven Fleet Capital Management LP boosted its holdings in 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 acquiring an additional 377,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Assembly Biosciences in the 2nd quarter worth about $660,000. Finally, Bank of America Corp DE lifted its holdings in Assembly Biosciences by 113.3% during the 1st quarter. Bank of America Corp DE now owns 10,902 shares of the biopharmaceutical company's stock worth $303,000 after buying an additional 5,792 shares in the last quarter. 19.92% of the stock is currently owned by institutional investors and hedge funds.

About Assembly Biosciences

Assembly Biosciences, Inc is a clinical-stage biotechnology company focused on developing oral therapeutics for serious viral infections. The company's research programs target chronic hepatitis B virus (HBV) infection and herpesvirus infections, including herpes simplex virus (HSV), with the goal of addressing diseases for which existing treatments may not provide adequate cures or long-term control.

Assembly's pipeline includes novel antiviral candidates designed to interfere with essential stages of viral replication.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.