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Avid Bioservices, Inc. (NASDAQ:CDMO – Get Rating) Director Richard B. Hancock sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $16.00, for a total transaction of $80,000.00. Following the transaction, the director now owns 39,134 shares of the company’s stock, valued at approximately $626,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Avid Bioservices Price Performance
NASDAQ CDMO traded up $0.08 on Friday, reaching $16.31. The company’s stock had a trading volume of 646,234 shares, compared to its average volume of 563,015. Avid Bioservices, Inc. has a twelve month low of $11.30 and a twelve month high of $22.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.30 and a current ratio of 1.77. The stock has a market cap of $1.02 billion, a PE ratio of 9.65 and a beta of 1.77. The firm’s 50 day moving average is $14.34 and its two-hundred day moving average is $16.56.
Avid Bioservices (NASDAQ:CDMO – Get Rating) last issued its quarterly earnings results on Tuesday, December 6th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Avid Bioservices had a net margin of 88.13% and a return on equity of 3.29%. The company had revenue of $34.76 million during the quarter, compared to the consensus estimate of $31.00 million. As a group, sell-side analysts predict that Avid Bioservices, Inc. will post 0.01 EPS for the current year.
Institutional Investors Weigh In On Avid Bioservices
Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its holdings in Avid Bioservices by 387.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,460 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 2,750 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Avid Bioservices in the second quarter worth approximately $64,000. US Bancorp DE purchased a new stake in shares of Avid Bioservices in the first quarter worth approximately $76,000. KBC Group NV purchased a new stake in shares of Avid Bioservices in the second quarter worth approximately $82,000. Finally, Captrust Financial Advisors increased its holdings in Avid Bioservices by 170.6% in the second quarter. Captrust Financial Advisors now owns 7,629 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 4,810 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Avid Bioservices to a “sell” rating in a research report on Wednesday, December 7th. Stephens decreased their target price on shares of Avid Bioservices to $22.00 in a research report on Monday, December 12th. Royal Bank of Canada decreased their target price on shares of Avid Bioservices from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 7th. Finally, Craig Hallum decreased their target price on shares of Avid Bioservices from $30.00 to $25.00 in a research report on Wednesday, December 7th.
About Avid Bioservices
(Get Rating)
Avid Bioservices, Inc, a contract development and manufacturing organization, provides process development and current good manufacturing practices (CGMP) clinical and commercial manufacturing services focused on biopharmaceutical drug substances derived from mammalian cell culture. The company produces monoclonal antibodies and recombinant proteins; and offers services, including CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support.
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