Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green Sells 100,000 Shares

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 100,000 shares of Avid Bioservices stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $12.28, for a total value of $1,228,000.00. Following the sale, the chief executive officer now owns 51,653 shares in the company, valued at $634,298.84. This trade represents a 65.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 value of $1,783,032.42.
• On Friday, December 20th, Nicholas Stewart Green sold 75,000 shares of Avid Bioservices stock. The stock was 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 CDMO opened at $12.24 on Friday. Avid Bioservices, Inc. has a twelve month low of $5.65 and a twelve month high of $12.48. The stock’s 50 day moving average is $11.75 and its two-hundred day moving average is $10.38. The firm has a market capitalization of $782.91 million, a PE ratio of -5.12 and a beta of 1.44. The company has a current ratio of 1.30, a quick ratio of 1.05 and a debt-to-equity ratio of 3.58.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Avid Bioservices

A number of institutional investors have recently added to or reduced their stakes in CDMO. Emerald Advisers LLC purchased a new stake in Avid Bioservices in the 3rd quarter valued at approximately $16,489,000. Point72 Asset Management L.P. boosted its holdings in Avid Bioservices by 42.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,815,806 shares of the biopharmaceutical company’s stock valued at $43,424,000 after purchasing an additional 1,142,756 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in Avid Bioservices in the 3rd quarter valued at approximately $11,953,000. Point72 DIFC Ltd boosted its holdings in Avid Bioservices by 12,530.9% in the 3rd quarter. Point72 DIFC Ltd now owns 1,003,653 shares of the biopharmaceutical company’s stock valued at $11,422,000 after purchasing an additional 995,707 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Avid Bioservices by 5,631.6% in the 2nd quarter. American Century Companies Inc. now owns 726,193 shares of the biopharmaceutical company’s stock valued at $5,185,000 after purchasing an additional 713,523 shares in the last quarter. Hedge funds and other 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.