AFMD - Why Affirmed Stock Was Up More Than 12% Wednesday
Shares in Affirmed (NASDAQ: AFMD) , a clinical-stage, immune-oncology company, rose more than 12% on Wednesday. The stock closed at $6.12 on Tuesday, then opened at $6.22 on Wednesday, and reached $7 in the early afternoon. Over the past 52 weeks, the low for Affirmed stock was $4.42 with a high of $11.74. The stock has been on a roll and is up more than 18% this year.
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Affirmed posted its third-quarter earnings last week. The company's financials had little to do with the stock's rise, though. The biotech company only makes a bit of collaboration revenue, but the other details in the report regarding the company's pipeline are what is pushing the stock.
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Why Affirmed Stock Was Up More Than 12% Wednesday