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Affymax Shares Sinking Lower, Down 4.6%

Published on Tue, 02/19/2013 - 11:14
By Adrienne Chilton

One of today's notable stocks in decline is Affymax (NASDAQ:AFFY), down 4.6% to $15.87. The Dow is up 0.4% to 14,033 and the S&P is currently up 0.4% to 1,526.

Affymax Inc. is a clinical-stage biopharmaceutical company. The Company develops peptide-based drugs for the treatment of serious and life-threatening conditions such as kidney disease and cancer.

Affymax share prices have moved between a 52-week high of $27.74 and a 52-week low of $9.98 and are now trading 59% above that low price at $15.87 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has declined 3.7%.

Affymax has overhead space with shares priced $15.87, or 46.8% below the average consensus analyst price target of $29.83. The stock should find initial resistance at its 200-day moving average (MA) of $18.59 and further resistance at its 50-day MA of $20.02.

By Adrienne Chilton
achilton@fnno.com

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