Nicholas Stewart Green Sells 2,786 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO) Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 2,786 shares of the business’s stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $22.37, for a total transaction of $62,322.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Monday, August 2nd, Nicholas Stewart Green sold 18,701 shares of Avid Bioservices stock. The stock was sold at an average price of $25.56, for a total transaction of $477,997.56.

Avid Bioservices stock opened at $23.42 on Thursday. The firm has a market cap of $1.44 billion, a PE ratio of 292.79 and a beta of 2.19. The company has a debt-to-equity ratio of 3.11, a quick ratio of 2.93 and a current ratio of 3.17. The firm’s 50 day moving average price is $22.94 and its two-hundred day moving average price is $22.59. Avid Bioservices, Inc. has a twelve month low of $6.99 and a twelve month high of $28.36.

Avid Bioservices (NASDAQ:CDMO) last released its quarterly earnings data on Tuesday, September 7th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The firm had revenue of $30.75 million for the quarter, compared to analyst estimates of $25.00 million. Avid Bioservices had a net margin of 12.63% and a return on equity of 19.89%. During the same quarter in the prior year, the business earned $0.06 EPS. Equities analysts anticipate that Avid Bioservices, Inc. will post 0.24 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of Avid Bioservices from $22.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, June 30th. Zacks Investment Research lowered shares of Avid Bioservices from a “buy” rating to a “hold” rating in a research note on Monday, October 4th. Royal Bank of Canada upped their price target on shares of Avid Bioservices from $21.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 30th. Finally, Craig Hallum boosted their target price on shares of Avid Bioservices from $21.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, June 30th.

Hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in Avid Bioservices in the first quarter worth approximately $27,000. Altshuler Shaham Ltd bought a new stake in Avid Bioservices in the first quarter worth approximately $41,000. Meeder Asset Management Inc. grew its position in Avid Bioservices by 282,700.0% in the second quarter. Meeder Asset Management Inc. now owns 2,828 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 2,827 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Avid Bioservices in the first quarter worth approximately $70,000. Finally, FORA Capital LLC bought a new stake in Avid Bioservices in the second quarter worth approximately $124,000. 86.40% of the stock is owned by institutional investors.

Avid Bioservices Company Profile

Avid Bioservices, Inc engages in the commercial manufacturing. The firm focuses on the biopharmaceutical products derived from mammalian cell culture for culture for biotechnology and pharmaceutical companies. It specializes in clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support.

See Also: Cash Flow

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