Assembly Biosciences, Inc. (NASDAQ:ASMB) Sees Significant Drop in Short Interest

Assembly Biosciences, Inc. (NASDAQ:ASMB) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 125,500 shares, a decline of 20.8% from the August 15th total of 158,400 shares. Based on an average daily trading volume, of 88,600 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Assembly Biosciences in a report on Sunday. They set a “hold” rating for the company.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of Assembly Biosciences by 3.9% in the second quarter. Millennium Management LLC now owns 1,418,180 shares of the biopharmaceutical company’s stock worth $2,978,000 after purchasing an additional 53,157 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Assembly Biosciences by 52.1% during the first quarter. Renaissance Technologies LLC now owns 765,800 shares of the biopharmaceutical company’s stock valued at $644,000 after acquiring an additional 262,416 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Assembly Biosciences by 12.2% during the second quarter. Geode Capital Management LLC now owns 507,649 shares of the biopharmaceutical company’s stock valued at $584,000 after acquiring an additional 55,021 shares during the last quarter. FMR LLC increased its position in shares of Assembly Biosciences by 7.7% during the first quarter. FMR LLC now owns 157,700 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 11,234 shares during the last quarter. Finally, State Street Corp grew its holdings in Assembly Biosciences by 15.7% during the first quarter. State Street Corp now owns 145,335 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 19,712 shares during the period. 19.92% of the stock is owned by institutional investors and hedge funds.

Assembly Biosciences Price Performance

Shares of Assembly Biosciences stock traded up $0.08 on Monday, hitting $0.99. 350,243 shares of the company’s stock traded hands, compared to its average volume of 177,893. Assembly Biosciences has a one year low of $0.77 and a one year high of $1.91. The company has a fifty day moving average of $1.01 and a two-hundred day moving average of $1.04. The company has a market capitalization of $51.96 million, a price-to-earnings ratio of -0.56 and a beta of 0.74.

Assembly Biosciences (NASDAQ:ASMB) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.03). Equities research analysts anticipate that Assembly Biosciences will post -1.2 earnings per share for the current year.

Assembly Biosciences Company Profile

Assembly Biosciences, Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for the treatment of hepatitis B virus (HBV) infection in the United States. The company's next-generation HBV core inhibitors include ABI-4334, which is in Phase 1a studies for the treatment of HBV; and ABI-H3733, which is in Phase 1b clinical study.