Assembly Biosciences, Inc. (NASDAQ:ASMB) Major Shareholder Acquires $145,800.00 in Stock

Assembly Biosciences, Inc. (NASDAQ:ASMB) major shareholder Alexander Schornstein purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average cost of $14.58 per share, with a total value of $145,800.00. Following the acquisition, the insider now directly owns 703,113 shares in the company, valued at $10,251,387.54. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Assembly Biosciences Stock Up 3.9 %

Shares of ASMB stock traded up $0.56 during trading hours on Wednesday, hitting $14.98. 5,450 shares of the company were exchanged, compared to its average volume of 22,747. Assembly Biosciences, Inc. has a 52 week low of $7.69 and a 52 week high of $20.04. The business has a 50 day moving average of $15.54 and a two-hundred day moving average of $14.69.

Assembly Biosciences (NASDAQ:ASMB) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.96) by $0.98. The firm had revenue of $8.53 million for the quarter, compared to the consensus estimate of $5.96 million. As a group, equities research analysts predict that Assembly Biosciences, Inc. will post -7.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Assembly Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of ASMB. Armistice Capital LLC acquired a new stake in Assembly Biosciences in the 2nd quarter valued at $6,421,000. Renaissance Technologies LLC grew its holdings in shares of Assembly Biosciences by 39.2% in the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock valued at $753,000 after acquiring an additional 15,451 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Assembly Biosciences by 131.0% in the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock valued at $184,000 after acquiring an additional 7,690 shares during the last quarter. Institutional investors and hedge funds own 19.92% of the company’s stock.

Analyst Ratings Changes

ASMB has been the subject of a number of research analyst reports. HC Wainwright reissued a “neutral” rating on shares of Assembly Biosciences in a research note on Tuesday, September 24th. Jefferies Financial Group upgraded Assembly Biosciences from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.00 to $35.00 in a research report on Friday, September 20th.

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.