Victory Capital Management Inc. raised its stake in shares of Avid Bioservices, Inc. (NASDAQ:CDMO) by 74.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,628 shares of the biopharmaceutical company’s stock after buying an additional 14,389 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of Avid Bioservices worth $725,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its holdings in shares of Avid Bioservices by 19.4% during the second quarter. Lazard Asset Management LLC now owns 4,601 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 747 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Avid Bioservices during the second quarter worth $124,000. Nisa Investment Advisors LLC acquired a new stake in shares of Avid Bioservices during the second quarter worth $128,000. Advisory Services Network LLC acquired a new stake in shares of Avid Bioservices during the second quarter worth $129,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Avid Bioservices during the second quarter worth $200,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Craig Hallum raised their price objective on Avid Bioservices from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, December 8th. Royal Bank of Canada lifted their target price on Avid Bioservices from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, December 8th. Zacks Investment Research cut Avid Bioservices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 5th. Finally, TheStreet cut Avid Bioservices from a “b-” rating to a “c” rating in a report on Wednesday, December 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $31.50.
NASDAQ:CDMO opened at $20.97 on Friday. The business’s 50-day moving average is $28.87 and its two-hundred day moving average is $26.18. The company has a debt-to-equity ratio of 2.77, a current ratio of 2.98 and a quick ratio of 2.68. Avid Bioservices, Inc. has a 12 month low of $12.60 and a 12 month high of $34.51. The firm has a market capitalization of $1.29 billion, a PE ratio of 161.32 and a beta of 2.29.
Avid Bioservices (NASDAQ:CDMO) last released its quarterly earnings data on Tuesday, December 7th. The biopharmaceutical company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. Avid Bioservices had a return on equity of 22.76% and a net margin of 13.20%. The company had revenue of $26.11 million for the quarter, compared to analyst estimates of $25.00 million. During the same period last year, the company posted $0.01 earnings per share. Equities analysts anticipate that Avid Bioservices, Inc. will post 0.28 EPS for the current year.
Avid Bioservices 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.
Receive News & Ratings for Avid Bioservices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Bioservices and related companies with MarketBeat.com's FREE daily email newsletter.