Avid Bioservices, Inc. (NASDAQ:CDMO) Shares Acquired by Barclays PLC

Barclays PLC grew its holdings in Avid Bioservices, Inc. (NASDAQ:CDMO - Free Report) by 98.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,598 shares of the biopharmaceutical company's stock after purchasing an additional 66,653 shares during the quarter. Barclays PLC owned about 0.21% of Avid Bioservices worth $1,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC lifted its position in Avid Bioservices by 15.8% during the second quarter. Millennium Management LLC now owns 5,099,529 shares of the biopharmaceutical company's stock worth $36,411,000 after buying an additional 695,512 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Avid Bioservices by 42.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,815,806 shares of the biopharmaceutical company's stock valued at $43,424,000 after buying an additional 1,142,756 shares in the last quarter. AltraVue Capital LLC increased its stake in shares of Avid Bioservices by 7.6% in the 2nd quarter. AltraVue Capital LLC now owns 3,395,263 shares of the biopharmaceutical company's stock worth $24,242,000 after acquiring an additional 239,343 shares during the last quarter. Portolan Capital Management LLC raised its holdings in shares of Avid Bioservices by 15.0% during the 3rd quarter. Portolan Capital Management LLC now owns 2,093,991 shares of the biopharmaceutical company's stock worth $23,830,000 after acquiring an additional 273,212 shares during the period. Finally, Emerald Advisers LLC purchased a new position in shares of Avid Bioservices during the 3rd quarter worth $16,489,000. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Avid Bioservices news, insider Richard A. Richieri sold 3,843 shares of the business's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $12.22, for a total transaction of $46,961.46. Following the sale, the insider now directly owns 44,556 shares in the company, valued at $544,474.32. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas Stewart Green sold 75,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $12.31, for a total transaction of $923,250.00. Following the sale, the chief executive officer now directly owns 151,653 shares in the company, valued at $1,866,848.43. This represents a 33.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 366,890 shares of company stock worth $4,454,227 over the last ninety days. Corporate insiders own 3.05% of the company's stock.

Avid Bioservices Trading Down 0.3 %

Shares of CDMO stock traded down $0.04 during trading hours on Friday, hitting $12.24. The company had a trading volume of 795,777 shares, compared to its average volume of 1,310,326. Avid Bioservices, Inc. has a fifty-two week low of $5.65 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.30 and a quick ratio of 1.05. The company's fifty day moving average is $11.75 and its 200 day moving average is $10.42. The stock has a market capitalization of $782.91 million, a PE ratio of -5.12 and a beta of 1.44.

Analysts Set New Price Targets

CDMO has been the subject of several recent analyst reports. William Blair restated a "market perform" rating on shares of Avid Bioservices in a research report on Thursday, November 7th. Royal Bank of Canada restated a "sector perform" rating and set a $12.50 price target (up previously from $12.00) on shares of Avid Bioservices in a report on Thursday, November 7th. StockNews.com upgraded Avid Bioservices to a "sell" rating in a report on Tuesday, September 10th. Stephens lowered Avid Bioservices from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 4th. Finally, Craig Hallum downgraded Avid Bioservices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $12.25.

Avid Bioservices Company Profile

Avid Bioservices, Inc operates as a contract development and manufacturing organization for the biotechnology and biopharmaceutical industries in the United States. It provides process development and current good manufacturing practice clinical and commercial manufacturing services of biologics, including clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, regulatory submission and support, upstream and downstream development and optimization, analytical methods development, cell line development, testing, and characterization services.