Short Interest in Assembly Biosciences, Inc. (NASDAQ:ASMB) Drops By 51.2%

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

Assembly Biosciences Stock Performance

ASMB traded down $0.91 on Friday, reaching $16.14. The company had a trading volume of 17,912 shares, compared to its average volume of 23,574. Assembly Biosciences has a one year low of $7.69 and a one year high of $19.93. The company has a fifty day moving average of $16.75 and a 200-day moving average of $15.30.

Insider Activity at Assembly Biosciences

In related news, major shareholder Alexander Schornstein acquired 10,000 shares of Assembly Biosciences stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $14.58 per share, for a total transaction of $145,800.00. Following the completion of the purchase, the insider now directly owns 703,113 shares in the company, valued at $10,251,387.54. This trade represents a 1.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.10% of the stock is owned by insiders.

Institutional Trading of Assembly Biosciences

Several institutional investors have recently modified their holdings of ASMB. Acadian Asset Management LLC lifted its holdings in Assembly Biosciences by 131.0% in 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. FMR LLC lifted its position 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 valued at $240,000 after acquiring an additional 3,635 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Assembly Biosciences by 39.2% in the 2nd quarter. Renaissance Technologies LLC now owns 54,911 shares of the biopharmaceutical company’s stock valued at $753,000 after purchasing an additional 15,451 shares during the period. Finally, Armistice Capital LLC purchased a new position in Assembly Biosciences in the 2nd quarter worth about $6,421,000. Institutional investors and hedge funds own 19.92% of the company’s stock.

Analyst Ratings Changes

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