Fri Sep 20 12:16:09 UTC 2024: ## Assembly Biosciences Stock Upgraded to “Buy” by Jefferies Financial Group

**San Francisco, CA – September 20, 2024** – Assembly Biosciences (NASDAQ: ASMB), a biotechnology company developing treatments for viral diseases, saw its stock receive a positive boost on Friday. Jefferies Financial Group upgraded the company’s rating from “hold” to “buy,” setting a price target of $35.00, representing a potential upside of 89.19% from the current price.

The upgrade follows Assembly Biosciences’ strong second-quarter earnings report, where the company exceeded analysts’ expectations on both earnings per share and revenue. In the quarter ending August 8th, the company reported ($1.98) EPS, beating the consensus estimate of ($2.96), and achieved $8.53 million in revenue compared to projected $5.96 million.

While HC Wainwright maintained a “neutral” rating on the stock, recent insider activity suggests confidence in the company’s future. Alexander Schornstein, a major shareholder, purchased 4,438 shares at an average cost of $12.52 per share on July 5th, demonstrating his belief in Assembly Biosciences’ trajectory.

Institutional investors have also been active in the company’s stock. Acadian Asset Management LLC increased its position in the second quarter by 131.0%, and Renaissance Technologies LLC boosted its stake by 39.2%. New investor Armistice Capital LLC acquired a substantial position in the company during the second quarter, worth $6,421,000.

Overall, the recent developments suggest a positive outlook for Assembly Biosciences. With the upgrade from Jefferies Financial Group, strong earnings, and increasing institutional interest, the company seems well-positioned for potential growth in the future.

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