Affirmed Therapeutics BV (AFMD) Downgraded by Zacks Investment Research to Sell
Affirmed Therapeutics BV (NASDAQ:AFMD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Affimed Therapeutics B.V. is a clinical-stage biopharmaceutical company. It is focused on discovering and developing cancer immunotherapies. Its product candidates are being developed in the field of immuno-oncology. The Company’s TandAbs has the ability to bring NK-cells or T-cells into proximity and trigger a signal cascade that leads to the destruction of cancer cells. Its product pipeline includes AFM13, AFM11 and AFM21. Affimed Therapeutics B.V. is headquartered in Heidelberg, Germany. “
A number of other research analysts have also recently commented on AFMD. Jefferies Group reiterated a “hold” rating on shares of Affirmed Therapeutics BV in a report on Tuesday, August 9th. Leerink Swann lowered Affirmed Therapeutics BV from an “outperform” rating to a “market perform” rating and cut their target price for the company from $8.00 to $3.00 in a research report on Friday, August 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $8.63.
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Affirmed Therapeutics BV (NASDAQ:AFMD) remained flat at $2.41 during mid-day trading on Wednesday. 121,365 shares of the stock were exchanged. Affirmed Therapeutics BV has a 1-year low of $2.25 and a 1-year high of $8.42. The stock’s market cap is $80.70 million. The firm has a 50 day moving average of $2.72 and a 200-day moving average of $3.21.
Affirmed Therapeutics BV (NASDAQ:AFMD) last released its quarterly earnings data on Wednesday, August 10th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.05. Affirmed Therapeutics BV had a negative net margin of 440.97% and a negative return on equity of 49.84%. The business earned $2.07 million during the quarter, compared to analyst estimates of $2.10 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. On average, equities research analysts forecast that Affirmed Therapeutics BV will post ($1.12) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Lombard Odier Asset Management USA Corp raised its stake in Affirmed Therapeutics BV by 4.7% in the second quarter. Lombard Odier Asset Management USA Corp now owns 365,677 shares of the biopharmaceutical company’s stock worth $907,000 after buying an additional 16,555 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Affirmed Therapeutics BV during the second quarter worth approximately $142,000. Perceptive Advisors LLC purchased a new position in shares of Affirmed Therapeutics BV during the second quarter worth approximately $1,821,000. Opaleye Management Inc. increased its position in shares of Affirmed Therapeutics BV by 2.5% in the first quarter. Opaleye Management Inc. now owns 610,000 shares of the biopharmaceutical company’s stock worth $2,281,000 after buying an additional 15,000 shares during the last quarter. Finally, Moore Capital Management LP purchased a new position in shares of Affirmed Therapeutics BV during the first quarter worth approximately $281,000. 42.86% of the stock is currently owned by institutional investors and hedge funds.
About Affirmed Therapeutics BV
Affimed N.V. is a clinical-stage biopharmaceutical company focused on discovering and developing cancer immunotherapies. The Company’s product candidates are developed in the field of immuno-oncology, which represents an approach to cancer research that seeks to harness the body’s own immune system to fight tumor cells.
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