Equities Analysts Set Expectations for ASMB FY2024 Earnings

Assembly Biosciences, Inc. (NASDAQ:ASMB) – Research analysts at HC Wainwright lifted their FY2024 earnings estimates for shares of Assembly Biosciences in a research report issued on Monday, November 11th. HC Wainwright analyst E. Arce now anticipates that the biopharmaceutical company will post earnings of ($6.87) per share for the year, up from their previous estimate of ($7.41). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for Assembly Biosciences’ current full-year earnings is ($7.82) per share. HC Wainwright also issued estimates for Assembly Biosciences’ Q4 2024 earnings at ($1.75) EPS, Q1 2025 earnings at ($1.95) EPS, Q2 2025 earnings at ($2.03) EPS, Q3 2025 earnings at ($2.06) EPS, Q4 2025 earnings at ($1.98) EPS, FY2025 earnings at ($8.03) EPS, FY2026 earnings at ($10.85) EPS, FY2027 earnings at ($14.69) EPS and FY2028 earnings at ($15.00) EPS.

Separately, Jefferies Financial Group upgraded Assembly Biosciences from a “hold” rating to a “buy” rating and lifted their target price for the stock from $2.00 to $35.00 in a research report on Friday, September 20th.

Assembly Biosciences Price Performance

Shares of Assembly Biosciences stock opened at $17.05 on Thursday. The business has a 50-day moving average price of $16.74 and a 200 day moving average price of $15.29. Assembly Biosciences has a fifty-two week low of $7.69 and a fifty-two week high of $19.93.

Institutional Trading of Assembly Biosciences

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its position in Assembly Biosciences by 131.0% in the second quarter. Acadian Asset Management LLC now owns 13,558 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 7,690 shares during the period. Renaissance Technologies LLC lifted its position in 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 purchasing an additional 15,451 shares during the last quarter. Armistice Capital LLC acquired a new position in Assembly Biosciences during the 2nd quarter valued at about $6,421,000. Finally, FMR LLC grew its position in Assembly Biosciences by 29.7% in the 3rd quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 3,635 shares during the last quarter. Institutional investors own 19.92% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Alexander Schornstein bought 10,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average cost of $14.58 per share, for a total transaction of $145,800.00. Following the completion of the purchase, the insider now directly owns 703,113 shares in the company, valued at approximately $10,251,387.54. The trade was a 1.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.10% of the stock is owned by corporate insiders.

About Assembly Biosciences

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.