Assembly Biosciences, Inc. (NASDAQ:ASMB) Short Interest Update

Assembly Biosciences, Inc. (NASDAQ:ASMB) was the target of a significant decrease in short interest in 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. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 28,000 shares, the days-to-cover ratio is currently 0.3 days.

Insider Activity at Assembly Biosciences

In related news, major shareholder Alexander Schornstein purchased 10,000 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $14.58 per share, for a total transaction of $145,800.00. Following the completion of the transaction, the insider now directly owns 703,113 shares of the company’s stock, valued at approximately $10,251,387.54. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Assembly Biosciences

Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings 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 valued at $184,000 after acquiring an additional 7,690 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Assembly Biosciences by 39.2% in the second 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 during the last quarter. Finally, Armistice Capital LLC bought a new position in Assembly Biosciences in the second quarter valued at about $6,421,000. Institutional investors own 19.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Assembly Biosciences Trading Up 1.0 %

Assembly Biosciences stock opened at $16.57 on Wednesday. The business’s 50-day simple moving average is $16.72 and its 200 day simple moving average is $15.25. Assembly Biosciences has a 12-month low of $7.69 and a 12-month high of $19.93.

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.