Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Sells $923,250.00 in Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $12.31, for a total transaction of $923,250.00. Following the transaction, the chief executive officer now owns 151,653 shares in the company, valued at approximately $1,866,848.43. This trade represents a 33.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 shares were sold at an average price of $12.28, for a total value of $1,228,000.00.
• 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 transaction of $172,588.65.

Avid Bioservices Trading Up 0.2 %

NASDAQ CDMO traded up $0.02 during trading hours on Thursday, hitting $12.28. 859,494 shares of the company’s stock were exchanged, 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 firm has a market capitalization 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 12-month low of $5.65 and a 12-month high of $12.48.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stephens downgraded shares of Avid Bioservices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Craig Hallum cut shares of Avid Bioservices from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. StockNews.com upgraded Avid Bioservices to a “sell” rating in a report on Tuesday, September 10th. William Blair reiterated a “market perform” rating on shares of Avid Bioservices in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $12.50 price target (up from $12.00) on shares of Avid Bioservices in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.25.

Institutional Investors Weigh In On Avid Bioservices

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Avid Bioservices by 283.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 108,684 shares of the biopharmaceutical company’s stock valued at $1,237,000 after buying an additional 80,308 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Avid Bioservices during the third quarter worth about $6,194,000. Franklin Resources Inc. raised its holdings in shares of Avid Bioservices by 11.5% in the 3rd 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 period. Barclays PLC lifted its stake in shares of Avid Bioservices by 98.1% in the 3rd quarter. Barclays PLC now owns 134,598 shares of the biopharmaceutical company’s stock valued at $1,532,000 after purchasing an additional 66,653 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of 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 worth $16,688,000 after purchasing an additional 34,328 shares during the period. 97.16% of the stock is currently owned by hedge funds and other institutional investors.

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.