Assembly Biosciences, Inc. (NASDAQ:ASMB) Sees Large Increase in Short Interest

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

Insider Buying and Selling

In other Assembly Biosciences 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 purchase, the insider now owns 703,113 shares of the company’s stock, valued at approximately $10,251,387.54. This represents a 1.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 394 shares of company stock worth $5,894 over the last ninety days. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASMB. Armistice Capital LLC acquired a new position in shares of Assembly Biosciences during the 2nd quarter worth about $6,421,000. Renaissance Technologies LLC boosted 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 buying an additional 15,451 shares during the period. Acadian Asset Management LLC boosted its holdings 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 worth $184,000 after buying an additional 7,690 shares during the period. Finally, FMR LLC boosted its holdings in shares of Assembly Biosciences by 29.7% during the 3rd quarter. FMR LLC now owns 15,855 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 3,635 shares during the period. 19.92% of the stock is currently owned by institutional investors and hedge funds.

Assembly Biosciences Stock Up 1.2 %

Shares of Assembly Biosciences stock traded up $0.21 during trading on Friday, hitting $17.04. 23,048 shares of the stock were exchanged, compared to its average volume of 24,169. The company has a fifty day moving average price of $16.28 and a 200-day moving average price of $15.51. Assembly Biosciences has a 1-year low of $8.40 and a 1-year high of $19.93.

Wall Street Analyst Weigh In

ASMB has been the topic of several recent research reports. HC Wainwright reiterated a “neutral” rating on shares of Assembly Biosciences in a research note on Tuesday, September 24th. Jefferies Financial Group upgraded shares of Assembly Biosciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $2.00 to $35.00 in a research note 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.