Acadian Asset Management LLC Increases Stake in Assembly Biosciences, Inc. (NASDAQ:ASMB)

Acadian Asset Management LLC raised its position in Assembly Biosciences, Inc. (NASDAQ:ASMB) by 131.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,558 shares of the biopharmaceutical company’s stock after acquiring an additional 7,690 shares during the quarter. Acadian Asset Management LLC owned approximately 0.25% of Assembly Biosciences worth $184,000 as of its most recent SEC filing.

Insiders Place Their Bets

In other news, major shareholder Alexander Schornstein bought 4,438 shares of Assembly Biosciences stock in a transaction dated Friday, July 5th. The stock was acquired at an average cost of $12.52 per share, with a total value of $55,563.76. Following the acquisition, the insider now owns 693,113 shares of the company’s stock, valued at $8,677,774.76. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Wall Street Analyst Weigh In

ASMB has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Assembly Biosciences in a research report on Thursday, June 20th. Jefferies Financial Group raised Assembly Biosciences from a “hold” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $35.00 in a research report on Friday.

Assembly Biosciences Price Performance

ASMB stock opened at $19.43 on Friday. Assembly Biosciences, Inc. has a twelve month low of $7.69 and a twelve month high of $20.04. The company’s 50 day moving average is $15.51 and its two-hundred day moving average is $14.47.

Assembly Biosciences (NASDAQ:ASMB) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.98) EPS for the quarter, beating analysts’ consensus estimates of ($2.96) by $0.98. The company had revenue of $8.53 million during the quarter, compared to analysts’ expectations of $5.96 million. On average, equities research analysts expect that Assembly Biosciences, Inc. will post -7.41 earnings per share for the current fiscal year.

Assembly Biosciences 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.