Short Interest in Assembly Biosciences, Inc. (NASDAQ:ASMB) Grows By 45.0%

Assembly Biosciences, Inc. (NASDAQ:ASMB) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 11,600 shares, a growth of 45.0% from the October 31st total of 8,000 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 30,500 shares, the days-to-cover ratio is presently 0.4 days.

Insiders Place Their Bets

In other news, major shareholder Alexander Schornstein acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average price 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 in the company, valued at approximately $10,251,387.54. This trade represents a 1.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 394 shares of company stock worth $5,894 in the last three months. 5.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Assembly Biosciences

Several institutional investors have recently modified their holdings of ASMB. Armistice Capital LLC bought a new position in shares of Assembly Biosciences during the 2nd quarter valued at approximately $6,421,000. Renaissance Technologies LLC boosted its stake in Assembly Biosciences by 39.2% during the second quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock worth $753,000 after buying an additional 15,451 shares during the period. Acadian Asset Management LLC increased its position in Assembly Biosciences by 131.0% during 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. Finally, FMR LLC raised its stake 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 valued at $240,000 after acquiring an additional 3,635 shares during the period. 19.92% of the stock is owned by institutional investors.

Assembly Biosciences Stock Up 1.2 %

Shares of NASDAQ:ASMB traded up $0.21 during trading on Friday, reaching $17.04. The company’s stock had a trading volume of 23,048 shares, compared to its average volume of 30,302. Assembly Biosciences has a 12 month low of $8.40 and a 12 month high of $19.93. The firm’s 50 day simple moving average is $16.28 and its two-hundred day simple moving average is $15.51.

Analysts Set New Price Targets

Several research firms have weighed in on ASMB. Jefferies Financial Group upgraded Assembly Biosciences from a “hold” rating to a “buy” rating and raised their price target for the company from $2.00 to $35.00 in a report on Friday, September 20th. HC Wainwright reissued a “neutral” rating on shares of Assembly Biosciences in a report on Tuesday, September 24th.

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.