Avid Bioservices, Inc. (NASDAQ:CDMO - Get Free Report) CEO Nicholas Stewart Green sold 100,000 shares of Avid Bioservices stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $12.28, for a total transaction of $1,228,000.00. Following the completion of the sale, the chief executive officer now owns 51,653 shares in the company, valued at approximately $634,298.84. This represents a 65.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Nicholas Stewart Green also recently made the following trade(s):
- On Friday, December 20th, Nicholas Stewart Green sold 75,000 shares of Avid Bioservices stock. The shares were sold at an average price of $12.31, for a total value of $923,250.00.
- On Thursday, October 10th, Nicholas Stewart Green sold 17,173 shares of Avid Bioservices stock. The shares were sold at an average price of $10.05, for a total value of $172,588.65.
Avid Bioservices Price Performance
Shares of NASDAQ CDMO traded up $0.02 during trading on Thursday, hitting $12.28. The company had a trading volume of 859,494 shares, compared to its average volume of 1,312,393. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.05 and a current ratio of 1.30. The company has a market cap of $785.47 million, a P/E ratio of -5.14 and a beta of 1.44. The business's 50-day moving average is $11.66 and its 200 day moving average is $10.34. Avid Bioservices, Inc. has a 52 week low of $5.65 and a 52 week high of $12.48.
Analysts Set New Price Targets
A number of brokerages recently weighed in on CDMO. Royal Bank of Canada restated a "sector perform" rating and set a $12.50 price objective (up from $12.00) on shares of Avid Bioservices in a research note on Thursday, November 7th. StockNews.com raised shares of Avid Bioservices to a "sell" rating in a research note on Tuesday, September 10th. William Blair reiterated a "market perform" rating on shares of Avid Bioservices in a research note on Thursday, November 7th. Craig Hallum downgraded Avid Bioservices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Stephens cut Avid Bioservices from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, Avid Bioservices presently has an average rating of "Hold" and an average target price of $12.25.
Get Our Latest Stock Report on CDMO
Hedge Funds Weigh In On Avid Bioservices
A number of institutional investors have recently bought and sold shares of CDMO. Meeder Asset Management Inc. acquired a new position in Avid Bioservices during the second quarter valued at $38,000. Quest Partners LLC acquired a new position in shares of Avid Bioservices in the 3rd quarter valued at about $38,000. Point72 DIFC Ltd purchased a new stake in shares of Avid Bioservices in the second quarter worth approximately $57,000. Principal Financial Group Inc. purchased a new stake in shares of Avid Bioservices in the second quarter worth approximately $80,000. Finally, TradeLink Capital LLC purchased a new position in Avid Bioservices during the second quarter valued at approximately $92,000. Hedge funds and other institutional investors own 97.16% of the company's stock.
About Avid Bioservices
(
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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.
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