Affimed NV (AFMD): Samuel Isaly Unloads Shares of Sinking Stock

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Affimed NV (NASDAQ:AFMD) is the subject of a 13D filing from Samuel Isaly‘s OrbiMed Advisors, which shows that the investment firm has sold off some of its stake in the company over the past couple of weeks. Mr. Isaly’s healthcare-focused fund now owns 4.05 million shares of the biopharmaceutical company, down from a stake of 4.58 million shares held at the end of 2015. The majority of those shares were sold between March 17 and March 30, at prices ranging between $3.67 and $3.96 per share, around their all-time lows. That has to be bitterly disappointing for Mr. Isaly, given that shares traded at over $10 per share for much of last summer and peaked at over $20 briefly. OrbiMed did sell over 1.20 million shares of the company in the third quarter, but retained the majority of its stake, which has depreciated rapidly since then. Shares are down by 47% in 2016.
At the end of the fourth quarter, a total of 12 of the hedge funds tracked by Insider Monkey were long this stock, up by 33% from the previous quarter. OrbiMed Advisors’ $32.6 million position in the stock was the largest held by those 12 funds, comprising 0.3% of its 13F portfolio. Coming in second was Bain Capital of Brookside Capital, with a $14.9 million position. Other hedge funds and institutional investors that held long positions encompassed Joseph Edelman’s Perceptive Advisors, Zach Schreiber’s Point State Capital, and James A. Silverman’s Opaleye Management.
You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
OrbiMed Advisors 0 4,053,000 0 4,053,000 4,053,000 12.19%
OrbiMed Capital GP III 0 4,014,765 0 4,014,765 4,014,765 12.07%
Samuel D. Isaly 0 4,053,000 0 4,053,000 4,053,000 12.19%

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Page 1 of 13 – SEC Filing

Washington, D.C.  20549
Under the Securities Exchange Act of 1934
(Amendment No. 5)*


(Name of Issuer)


(Title of Class of Securities)


(CUSIP Number)
OrbiMed Advisors LLC
OrbiMed Capital GP III LLC
Samuel D. Isaly
601 Lexington Avenue, 54th Floor
New York, NY 10022

Telephone:  (212) 739-6400

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)

March 29, 2016

(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of § 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7(b) for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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