Affymax Shares Jump 20% in Heavy Volume

Shares of Affymax, Inc. (AFFY) continue to see strong action to the upside during Friday’s trading session. The stock is currently sitting on a gain of nearly 20% as it probes its June-August gap down-7-month range high near the $8.50-8.90 area.

Today’s trading range for shares of Affymax Inc., whose consensus price target of analysts covering the co.’s stock is $10.00 per share, has been between $6.84 and $8.50 p/sh. Over the last six months, AFFY has gained nearly 100%, but still remains at significant depressed levels, having fallen more than 72% year-to-date.

Affymax has a 52 week range of $4.90 to $8.50. The stock’s 50-day moving average is $6.15 and its 200-day moving average is $11.21.

At last check [12:06 p.m. EST], AFFY shares, which opened at $6.94 on Friday, were up over 17% to $8.15 in trading on the Nasdaq. Affymax currently trades with a trailing twelve negative EPS of $0.72, a price book of 2.35 and a P/E to Growth ratio of (0.35). More than 3.3 million AFFY shares have already traded hands compared to a daily average of around 772K.

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About Ron Haruni 1069 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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