Assembly Biosciences, Inc. (NASDAQ:ASMB) Major Shareholder Purchases $145,800.00 in Stock

Assembly Biosciences, Inc. (NASDAQ:ASMB) major shareholder Alexander Schornstein bought 10,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $14.58 per share, with a total value of $145,800.00. Following the completion of the purchase, the insider now owns 703,113 shares in the company, 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 SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Assembly Biosciences Trading Up 8.8 %

Shares of Assembly Biosciences stock opened at $17.46 on Friday. Assembly Biosciences, Inc. has a 1-year low of $7.69 and a 1-year high of $20.04. The company’s fifty day simple moving average is $15.61 and its 200-day simple moving average is $14.72.

Assembly Biosciences (NASDAQ:ASMB) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.96) by $0.98. The company had revenue of $8.53 million for the quarter, compared to the consensus estimate of $5.96 million. As a group, research analysts predict that Assembly Biosciences, Inc. will post -7.82 EPS for the current year.

Institutional Trading of Assembly Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC purchased a new position in shares of Assembly Biosciences during the 2nd quarter valued at $6,421,000. Renaissance Technologies LLC raised its holdings in Assembly Biosciences by 39.2% during 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 period. Finally, Acadian Asset Management LLC raised its holdings 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 period. 19.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.