Assembly Biosciences rises after Wainwright starts coverage with 'neutral'

Assembly Biosciences

13/09/2021 20:57

** Shares of drug developer  ASMB.O  rise as much as 7.4% to
$3.47 - its biggest pct rise this month 
    ** H.C. Wainwright starts coverage of co with "neutral"
rating and PT of $3.50, premium of ~8.4% from ASMB's last close 
    ** Wainwright says core inhibitor approach to finding cure
for Hepatitis B is compelling, but recent setbacks have pushed
back time to market 
    ** Brokerage says interested in potential of co's newest
core inhibitor candidate, 4334, which is expected to enter
clinic in 2022 
    ** Brokerage views ASMB's current cash position of $199.1
mln and cash runway into H2 2023 as positive 
    ** 4 of 7 brokerages rate stock "hold" or higher; their
median PT is $10.50 
    ** Including today's session, ASMB down ~45% YTD 

 (Reporting by Bhanvi Satija)
 ((Bhanvi.Satija@thomsonreuters.com;))