Affimed (NASDAQ:AFMD) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

Affimed (NASDAQ:AFMD)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.42 and traded as low as $1.31. Affimed shares last traded at $1.32, with a volume of 278,795 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AFMD. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Affimed in a research report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Affimed in a report on Tuesday, November 19th. Stifel Nicolaus dropped their target price on shares of Affimed from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Finally, Wells Fargo & Company decreased their price target on shares of Affimed from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Affimed currently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Affimed Stock Performance

The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $2.42 and a 200 day moving average price of $3.59.

Institutional Trading of Affimed

A number of institutional investors and hedge funds have recently bought and sold shares of AFMD. Jane Street Group LLC purchased a new stake in shares of Affimed during the third quarter valued at approximately $44,000. Choreo LLC purchased a new stake in Affimed during the 2nd quarter valued at $54,000. FMR LLC increased its holdings in shares of Affimed by 30.0% in the 3rd quarter. FMR LLC now owns 17,696 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 4,086 shares in the last quarter. Intellectus Partners LLC raised its stake in shares of Affimed by 12.2% in the third quarter. Intellectus Partners LLC now owns 94,361 shares of the biopharmaceutical company’s stock worth $317,000 after purchasing an additional 10,250 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Affimed by 4.6% in the third quarter. Point72 Asset Management L.P. now owns 342,856 shares of the biopharmaceutical company’s stock worth $1,152,000 after purchasing an additional 15,108 shares during the last quarter. 30.82% of the stock is currently owned by institutional investors.

About Affimed

Affimed N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing cancer immunotherapies in the United States and Germany. The company’s lead product candidates include AFM13 that has completed Phase 2 clinical trial for CD30-positive lymphoma, Phase Ib clinical trial for hodgkin lymphoma, and completed Phase IIb clinical study for peripheral T-cell lymphoma; AFM24, a tetravalent, bispecific epidermal growth factor receptor, and CD16A-binding innate cell engager, which is in Phase IIa clinical trial for the treatment of advanced cancers; and AFM28, an innate cell engager (ICE), which is in preclinical development for the treatment acute myeloid.