McGuire Investment Group LLC Has $145,000 Stock Position in Avid Bioservices, Inc. (NASDAQ:CDMO)

McGuire Investment Group LLC reduced its holdings in Avid Bioservices, Inc. (NASDAQ:CDMO - Free Report) by 64.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,728 shares of the biopharmaceutical company's stock after selling 21,106 shares during the period. McGuire Investment Group LLC's holdings in Avid Bioservices were worth $145,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Sei Investments Co. grew its position in Avid Bioservices by 14.9% during the second quarter. Sei Investments Co. now owns 159,729 shares of the biopharmaceutical company's stock worth $1,140,000 after buying an additional 20,766 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Avid Bioservices during the 2nd quarter worth about $1,396,000. Point72 DIFC Ltd acquired a new position in Avid Bioservices in the second quarter valued at about $57,000. Cubist Systematic Strategies LLC grew its stake in Avid Bioservices by 112.5% during the second quarter. Cubist Systematic Strategies LLC now owns 341,311 shares of the biopharmaceutical company's stock worth $2,437,000 after buying an additional 180,692 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of 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. 97.16% of the stock is currently owned by institutional investors and hedge funds.

Avid Bioservices Trading Down 0.2 %

NASDAQ:CDMO traded down $0.03 on Friday, hitting $12.42. 640,373 shares of the stock were exchanged, compared to its average volume of 1,212,977. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.92 and a current ratio of 1.30. Avid Bioservices, Inc. has a 52 week low of $5.90 and a 52 week high of $12.48. The stock has a market capitalization of $794.38 million, a price-to-earnings ratio of -5.20 and a beta of 1.40. The company's 50-day moving average price is $12.33 and its 200 day moving average price is $11.09.

Avid Bioservices (NASDAQ:CDMO - Get Free Report) last announced its quarterly earnings data on Tuesday, December 10th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). Avid Bioservices had a negative net margin of 101.07% and a negative return on equity of 33.18%. On average, equities research analysts forecast that Avid Bioservices, Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stephens lowered Avid Bioservices from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 4th. William Blair restated a "market perform" rating on shares of Avid Bioservices in a research note on Thursday, November 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $12.50 price target (up from $12.00) on shares of Avid Bioservices in a report on Thursday, November 7th. Finally, Craig Hallum lowered shares of Avid Bioservices from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Avid Bioservices presently has an average rating of "Hold" and a consensus target price of $12.25.

Insider Buying and Selling

In related news, insider Richard A. Richieri sold 2,283 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $12.37, for a total value of $28,240.71. Following the completion of the sale, the insider now owns 49,535 shares in the company, valued at $612,747.95. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas Stewart Green sold 145,911 shares of Avid Bioservices stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $12.22, for a total value of $1,783,032.42. Following the transaction, the chief executive officer now owns 157,620 shares in the company, valued at approximately $1,926,116.40. This represents a 48.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 349,850 shares of company stock valued at $4,288,259 over the last three months. Company insiders own 3.05% of the company's stock.

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.