Affirmed Therapeutics BV (AFMD) Downgraded to Sell at Zacks Investment Research
Affirmed Therapeutics BV (NASDAQ:AFMD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “
Other equities analysts also recently issued reports about the stock. Jefferies Group restated a “hold” rating on shares of Affirmed Therapeutics BV in a research note on Tuesday, August 9th. Leerink Swann downgraded shares of Affirmed Therapeutics BV from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $3.00 in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Affirmed Therapeutics BV currently has an average rating of “Hold” and a consensus target price of $8.63.
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Shares of Affirmed Therapeutics BV (NASDAQ:AFMD) remained flat at $2.41 during mid-day trading on Wednesday. The company’s stock had a trading volume of 121,365 shares. Affirmed Therapeutics BV has a 52-week low of $2.25 and a 52-week high of $8.42. The firm’s market capitalization is $80.70 million. The firm has a 50 day moving average price of $2.71 and a 200-day moving average price of $3.20.
Affirmed Therapeutics BV (NASDAQ:AFMD) last posted its quarterly earnings data on Wednesday, August 10th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.05. Affirmed Therapeutics BV had a negative return on equity of 49.84% and a negative net margin of 440.97%. The business had revenue of $2.07 million for the quarter, compared to analyst estimates of $2.10 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Equities analysts forecast that Affirmed Therapeutics BV will post ($1.12) EPS for the current year.
Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Affirmed Therapeutics BV by 6.8% in the first quarter. Geode Capital Management LLC now owns 29,204 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,856 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Affirmed Therapeutics BV during the second quarter worth about $142,000. Moore Capital Management LP purchased a new stake in shares of Affirmed Therapeutics BV during the first quarter worth about $281,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Affirmed Therapeutics BV by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 108,911 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 1,713 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Affirmed Therapeutics BV by 7.7% in the first quarter. State Street Corp now owns 220,885 shares of the biopharmaceutical company’s stock worth $823,000 after buying an additional 15,714 shares during the last quarter. 42.86% of the stock is currently owned by institutional investors.
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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