Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green Sells 145,911 Shares

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 145,911 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $12.22, for a total transaction of $1,783,032.42. Following the completion of the transaction, the chief executive officer now directly owns 157,620 shares in the company, valued at approximately $1,926,116.40. The trade was a 48.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Nicholas Stewart Green also recently made the following trade(s):

• On Monday, December 23rd, Nicholas Stewart Green sold 100,000 shares of Avid Bioservices stock. The stock was sold at an average price of $12.28, for a total value of $1,228,000.00.
• 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 stock was sold at an average price of $10.05, for a total value of $172,588.65.

Avid Bioservices Price Performance

Shares of NASDAQ:CDMO opened at $12.24 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.30 and a debt-to-equity ratio of 3.58. The stock has a market cap of $782.91 million, a PE ratio of -5.12 and a beta of 1.44. The company’s fifty day moving average is $11.75 and its 200 day moving average is $10.42. Avid Bioservices, Inc. has a 52 week low of $5.65 and a 52 week high of $12.48.

Analyst Ratings Changes

CDMO has been the topic of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of Avid Bioservices in a research note on Thursday, November 7th. Craig Hallum downgraded shares of Avid Bioservices from a “strong-buy” rating to a “hold” rating in a report 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 issued a $12.50 price objective (up from $12.00) on shares of Avid Bioservices in a report on Thursday, November 7th. Finally, StockNews.com upgraded Avid Bioservices to a “sell” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CDMO. JPMorgan Chase & Co. grew its position in Avid Bioservices by 283.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 108,684 shares of the biopharmaceutical company’s stock worth $1,237,000 after acquiring an additional 80,308 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Avid Bioservices during the third quarter valued at approximately $6,194,000. Franklin Resources Inc. grew its holdings in shares of Avid Bioservices by 11.5% in the third quarter. Franklin Resources Inc. now owns 60,780 shares of the biopharmaceutical company’s stock worth $692,000 after purchasing an additional 6,259 shares during the last quarter. Barclays PLC increased its stake in shares of Avid Bioservices by 98.1% in the third quarter. Barclays PLC now owns 134,598 shares of the biopharmaceutical company’s stock worth $1,532,000 after buying an additional 66,653 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Avid Bioservices by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,466,155 shares of the biopharmaceutical company’s stock valued at $16,688,000 after buying an additional 34,328 shares during the last quarter. Hedge funds and other institutional investors own 97.16% 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.