Assembly Biosciences (NASDAQ:ASMB) Trading Down 8.3% – Here’s Why

Assembly Biosciences, Inc. (NASDAQ:ASMB)’s share price fell 8.3% during trading on Monday . The stock traded as low as $34.50 and last traded at $34.6650. 51,639 shares were traded during trading, a decline of 28% from the average session volume of 71,861 shares. The stock had previously closed at $37.79.

Analyst Ratings Changes

Several brokerages recently commented on ASMB. Zacks Research raised Assembly Biosciences to a “hold” rating in a research note on Tuesday, August 19th. Citizens Jmp started coverage on shares of Assembly Biosciences in a research note on Wednesday, September 24th. They issued an “outperform” rating and a $38.00 target price on the stock. Mizuho set a $40.00 target price on shares of Assembly Biosciences and gave the stock an “outperform” rating in a report on Thursday, November 20th. Guggenheim lifted their price target on shares of Assembly Biosciences from $31.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Assembly Biosciences in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Assembly Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Assembly Biosciences Stock Down 10.3%

The company has a market cap of $536.04 million, a P/E ratio of -6.06 and a beta of 0.60. The firm has a fifty day moving average price of $30.38 and a 200 day moving average price of $23.29.

Assembly Biosciences (NASDAQ:ASMB) last issued its quarterly earnings results on Monday, November 10th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.22). Assembly Biosciences had a negative return on equity of 149.01% and a negative net margin of 117.20%.The company had revenue of $10.79 million for the quarter, compared to analyst estimates of $7.46 million. On average, sell-side analysts anticipate that Assembly Biosciences, Inc. will post -6.87 earnings per share for the current year.

Institutional Trading of Assembly Biosciences

Several hedge funds have recently modified their holdings of ASMB. Farallon Capital Management LLC acquired a new position in Assembly Biosciences during the 3rd quarter worth $31,426,000. RA Capital Management L.P. acquired a new stake in shares of Assembly Biosciences in the 3rd quarter valued at $26,122,000. Commodore Capital LP bought a new stake in shares of Assembly Biosciences during the third quarter worth $25,600,000. Vanguard Group Inc. raised its position in shares of Assembly Biosciences by 97.8% during the third quarter. Vanguard Group Inc. now owns 502,112 shares of the biopharmaceutical company’s stock worth $12,854,000 after acquiring an additional 248,287 shares during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new position in shares of Assembly Biosciences during the third quarter valued at $6,425,000. 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.