Affimed NV (NASDAQ:AFMD) broke out on 10 March at 6.88 and confirmed on 31 March at 7.91. Thus, garnering a LTN Cash Pile Buy rating with a 1 yr price target at 12.54. The Street’s consensus target is at 12.36.
AFMD closed Wednesday at 7.91 within 52-wk range of 1.50 – 8.60.
The Key support is at 7.63 and the resistance is Nil beyond 8.48.
Our outlook is Bullish with a Very Bullish bias in here, as the Fibo technical indicator tuned Very Bullish Wednesday.
Affimed NV is a clinical-stage biopharmaceutical company focused on discovering and developing cancer immunotherapies in the United States, Europe, and Germany. Its lead product candidate is AFM13, a natural killer cell (NK-cell) TandAb, which has completed Phase 2a clinical study of relapsed CD30-positive lymphoma and Phase 1b clinical study of anti-PD-1 antibody Keytruda (pembrolizumab) in patients with relapsed Hodgkin lymphoma.
The company is also developing AFM24, a tetravalent, bispecific epidermal growth factor receptor, and CD16A-binding innate cell engager for the treatment of advanced cancer patients; AFM26, an innate cell-engaging bispecific antibody targeting B cell maturation antigen (BCMA) for the treatment of multiple myeloma; and Trispecific antibodies for the treatment of multiple myeloma. In addition, it is developing AFM11, a T cell engager for the treatment of CD19+ B cell malignancies, including non-Hodgkin Lymphoma and acute lymphocytic leukemia (AML); and AMV564, a CD33/CD3-specific T-cell TandAb that is in Phase 1 clinical study of refractory AML.
The company has license agreements with Amphivena Therapeutics, Inc., Deutsches Krebsforschungszentrum, and Xoma Corporation; research funding agreement with The Leukemia & Lymphoma Society; and collaboration with Merck Sharp & Dohme B.V. and Roche.
It also has a clinical development and commercialization collaboration with The University of Texas MD Anderson Cancer Center to evaluate AFM13 in combination with MD Anderson’s NK-cell product; Genentech; and Roivant Sciences.
The company was formerly known as Affimed Therapeutics B.V. and changed its name to Affimed NV in October 2014. Affimed N.V. was founded in Y 2000 and is HQ’d in Heidelberg, Germany
Have a healthy day, Keep the Faith!