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 company’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 value of $923,250.00. Following the completion of the transaction, the chief executive officer now owns 151,653 shares of the company’s stock, valued at approximately $1,866,848.43. This represents a 33.09 % decrease in their position. 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):

• On Thursday, December 26th, Nicholas Stewart Green sold 145,911 shares of Avid Bioservices stock. The stock was sold at an average price of $12.22, for a total transaction of $1,783,032.42.
• 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 transaction of $1,228,000.00.
• 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 transaction of $172,588.65.

Avid Bioservices Price Performance

Shares of NASDAQ CDMO opened at $12.24 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.05 and a debt-to-equity ratio of 3.58. The company has a market capitalization of $782.91 million, a price-to-earnings ratio of -5.12 and a beta of 1.44. Avid Bioservices, Inc. has a twelve month low of $5.65 and a twelve month high of $12.48. The business has a 50 day simple moving average of $11.75 and a 200-day simple moving average of $10.40.

Analyst Upgrades and Downgrades

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

Institutional Trading of Avid Bioservices

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of Avid Bioservices by 8.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 260,313 shares of the biopharmaceutical company’s stock worth $1,859,000 after buying an additional 19,960 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Avid Bioservices by 28.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,741 shares of the biopharmaceutical company’s stock worth $98,000 after acquiring an additional 3,041 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Avid Bioservices in the second quarter valued at approximately $80,000. Rhumbline Advisers grew its holdings in shares of Avid Bioservices by 6.1% during the second quarter. Rhumbline Advisers now owns 94,682 shares of the biopharmaceutical company’s stock valued at $676,000 after purchasing an additional 5,408 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its position in shares of Avid Bioservices by 45.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 570,089 shares of the biopharmaceutical company’s stock worth $4,070,000 after purchasing an additional 178,992 shares during the period. Institutional investors own 97.16% of the company’s stock.

About 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.