Assembly Biosciences (NASDAQ:ASMB) Posts Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Assembly Biosciences (NASDAQ:ASMB) released its earnings results on Monday. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.22), Zacks reports. Assembly Biosciences had a negative return on equity of 149.01% and a negative net margin of 117.20%.

Assembly Biosciences Price Performance

Shares of ASMB stock traded up $0.87 during mid-day trading on Monday, hitting $32.07. 71,897 shares of the stock traded hands, compared to its average volume of 67,123. Assembly Biosciences has a 52-week low of $7.75 and a 52-week high of $32.68. The stock’s fifty day moving average is $26.30 and its two-hundred day moving average is $20.71. The stock has a market cap of $246.04 million, a P/E ratio of -5.75 and a beta of 0.60.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Assembly Biosciences by 97.8% in the third quarter. Vanguard Group Inc. now owns 502,112 shares of the biopharmaceutical company’s stock valued at $12,854,000 after buying an additional 248,287 shares during the last quarter. 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. Finally, Acadian Asset Management LLC increased its holdings in Assembly Biosciences by 42.1% in the 1st quarter. Acadian Asset Management LLC now owns 23,027 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 6,823 shares in the last quarter. Institutional investors and hedge funds own 19.92% of the company’s stock.

Analyst Ratings Changes

ASMB has been the topic of several research reports. Zacks Research raised Assembly Biosciences to a “hold” rating in a report on Tuesday, August 19th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Assembly Biosciences in a report on Tuesday, October 14th. JMP Securities initiated coverage on Assembly Biosciences in a research report on Wednesday, September 24th. They set a “market outperform” rating and a $38.00 price objective on the stock. Guggenheim raised their price objective on Assembly Biosciences from $31.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, Citigroup initiated coverage on Assembly Biosciences in a research report on Wednesday, September 24th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Assembly Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

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.