Assembly Biosciences (NASDAQ:ASMB) Cut to Sell at StockNews.com

Assembly Biosciences (NASDAQ:ASMB) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Assembly Biosciences Stock Down 0.6 %

Shares of NASDAQ ASMB traded down $0.08 during midday trading on Thursday, reaching $13.30. 30,210 shares of the company were exchanged, compared to its average volume of 29,694. The stock’s 50-day moving average price is $12.10 and its 200-day moving average price is $10.58. The stock has a market cap of $72.88 million, a P/E ratio of -0.78 and a beta of 0.56. Assembly Biosciences has a one year low of $7.69 and a one year high of $20.04.

Insiders Place Their Bets

In other news, major shareholder Alexander Schornstein acquired 24,999 shares of the stock in a transaction dated Wednesday, January 17th. The stock was bought at an average price of $9.36 per share, with a total value of $233,990.64. Following the completion of the purchase, the insider now directly owns 655,357 shares of the company’s stock, valued at approximately $6,134,141.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.10% of the company’s stock.

Institutional Trading of Assembly Biosciences

Several institutional investors have recently modified their holdings of ASMB. Vanguard Group Inc. increased its position in Assembly Biosciences by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 2,339,088 shares of the biopharmaceutical company’s stock valued at $1,918,000 after purchasing an additional 99,092 shares during the period. Millennium Management LLC increased its position in shares of Assembly Biosciences by 3.9% during the second quarter. Millennium Management LLC now owns 1,418,180 shares of the biopharmaceutical company’s stock worth $2,978,000 after buying an additional 53,157 shares during the period. Renaissance Technologies LLC raised its stake in Assembly Biosciences by 52.1% during the first quarter. Renaissance Technologies LLC now owns 765,800 shares of the biopharmaceutical company’s stock worth $644,000 after buying an additional 262,416 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Assembly Biosciences by 12.2% in the second quarter. Geode Capital Management LLC now owns 507,649 shares of the biopharmaceutical company’s stock valued at $584,000 after buying an additional 55,021 shares during the period. Finally, Acuitas Investments LLC bought a new stake in Assembly Biosciences during the fourth quarter valued at $218,000. Institutional investors own 19.92% of the company’s stock.

About Assembly Biosciences

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.