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

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.