Avid Bioservices, Inc. (NASDAQ:CDMO - Get Free Report) CEO Nicholas Stewart Green sold 100,000 shares of Avid Bioservices stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $12.28, for a total transaction of $1,228,000.00. Following the transaction, the chief executive officer now directly owns 51,653 shares of the company's stock, valued at $634,298.84. The trade was a 65.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Nicholas Stewart Green also recently made the following trade(s):
NASDAQ CDMO traded up $0.02 on Thursday, reaching $12.28. 859,494 shares of the stock traded hands, compared to its average volume of 1,312,393. Avid Bioservices, Inc. has a 12 month low of $5.65 and a 12 month high of $12.48. 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 fifty day moving average price of $11.66 and a 200-day moving average price of $10.34. The company has a market cap of $785.47 million, a price-to-earnings ratio of -5.14 and a beta of 1.44.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of Avid Bioservices by 2.4% during the third quarter. Janney Montgomery Scott LLC now owns 77,145 shares of the biopharmaceutical company's stock worth $878,000 after purchasing an additional 1,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Avid Bioservices by 28.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,741 shares of the biopharmaceutical company's stock valued at $98,000 after buying an additional 3,041 shares in the last quarter. Quest Partners LLC purchased a new stake in Avid Bioservices in the third quarter valued at about $38,000. Glenmede Trust Co. NA boosted its holdings in Avid Bioservices by 37.9% in the third quarter. Glenmede Trust Co. NA now owns 17,498 shares of the biopharmaceutical company's stock worth $199,000 after acquiring an additional 4,812 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Avid Bioservices during the second quarter worth about $38,000. 97.16% of the stock is currently owned by institutional investors.
CDMO has been the topic of a number of analyst reports. Craig Hallum cut Avid Bioservices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Stephens downgraded Avid Bioservices from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated a "sector perform" rating and set a $12.50 target price (up from $12.00) on shares of Avid Bioservices in a research report on Thursday, November 7th. StockNews.com upgraded shares of Avid Bioservices to a "sell" rating in a report on Tuesday, September 10th. Finally, William Blair reiterated a "market perform" rating on shares of Avid Bioservices in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Avid Bioservices currently has a consensus rating of "Hold" and an average price target of $12.25.
View Our Latest Report on Avid Bioservices
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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