Why Affimed Shares Are Soaring

Affimed N.V. AFMD shares are trading higher Monday after the company announced additional follow-up data from the on-going AFM24-102 study in non-small cell lung cancer (NSCLC).

The Details:

Affimed said in 17 EGFR wild-type (EGFRwt) non-small cell lung cancer (NSCLC) patients who failed chemotherapy and PD-1/PD-L1, AFM24 plus atezolizumab achieved four objective responses, three of four responses were ongoing for more than 7 months and progression free survival (PFS) was 5.9 months.

“The efficacy of the combination of AFM24 and atezolizumab in these heavily pretreated NSCLC patients is encouraging and supports our hypothesis of a synergistic activity of AFM24 with PD-1/PD-L1 blockade. We believe the durability of the responses in EGFRwt tumors is remarkable and is unlikely driven by PD-1/PD-L1 blockade alone, as all patients with responses had documented progression on their previous PD-1/PD-L1 therapy,” said Dr. Andreas Harstrick, CEO of Affimed. 

HC Wainwright & Co. reiterated its Buy rating on Affimed and maintained a $10 price target on Monday. 

According to data from Benzinga Pro, Affimed shares are trading above the stock’s 50-day moving average of $5.31 and nearly the stock's entire float of 14.313 million shares has already changed hands in the session. 

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Should I Sell My AFMD Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Affimed have decreased by 17.48% in the past year. An investor who bought shares of Affimed at the beginning of the year would take a loss of $0.02 per share if they sold it today. The stock has risen 13.48% over the past month, meaning an investor who bought shares on May 1 would see a capital gain of $0.93.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Affimed stock currently has an RSI of 34.92, indicating neutral conditions.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.

AFMD Price Action: According to Benzinga Pro, Affimed shares are up 46.9% at $6.39 at the time of publication Monday.

Image: Mohamed Hassan from Pixabay