Assembly Biosciences, Inc. (NASDAQ:ASMB) Sees Significant Decrease in Short Interest

Assembly Biosciences, Inc. (NASDAQ:ASMB) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 8,000 shares, a decrease of 51.2% from the October 15th total of 16,400 shares. Based on an average daily volume of 28,000 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ASMB. Jefferies Financial Group raised shares of Assembly Biosciences from a “hold” rating to a “buy” rating and increased their target price for the company from $2.00 to $35.00 in a research report on Friday, September 20th. HC Wainwright reiterated a “neutral” rating on shares of Assembly Biosciences in a research report on Tuesday, September 24th.

Insider Buying and Selling at Assembly Biosciences

In other Assembly Biosciences news, major shareholder Alexander Schornstein bought 10,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $14.58 per share, with a total value of $145,800.00. Following the transaction, the insider now owns 703,113 shares of the company’s stock, valued at approximately $10,251,387.54. The trade was a 1.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Assembly Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC acquired a new stake in shares of Assembly Biosciences in the second quarter valued at approximately $6,421,000. Acadian Asset Management LLC increased its stake in shares of Assembly Biosciences by 131.0% during the 2nd 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. Renaissance Technologies LLC lifted its holdings in shares of Assembly Biosciences by 39.2% during the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock worth $753,000 after acquiring an additional 15,451 shares during the period. Finally, FMR LLC boosted its position in shares of Assembly Biosciences by 29.7% in the third quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 3,635 shares during the last quarter. 19.92% of the stock is owned by institutional investors and hedge funds.

Assembly Biosciences Price Performance

Shares of NASDAQ ASMB traded down $0.91 during mid-day trading on Friday, hitting $16.14. 17,912 shares of the company were exchanged, compared to its average volume of 23,574. Assembly Biosciences has a 1-year low of $7.69 and a 1-year high of $19.93. The stock has a 50 day simple moving average of $16.75 and a 200-day simple moving average of $15.30.

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.