Daniel R. Hart Sells 2,826 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO) Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) CFO Daniel R. Hart sold 2,826 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $7.40, for a total transaction of $20,912.40. Following the sale, the chief financial officer now owns 82,221 shares of the company’s stock, valued at $608,435.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Avid Bioservices Trading Up 0.6 %

Shares of Avid Bioservices stock opened at $8.25 on Friday. The business has a 50 day moving average of $7.03 and a 200 day moving average of $6.52. Avid Bioservices, Inc. has a 52 week low of $4.07 and a 52 week high of $18.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.31 and a current ratio of 0.46.

Analyst Ratings Changes

Separately, Royal Bank of Canada upped their price objective on shares of Avid Bioservices from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Avid Bioservices presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Avid Bioservices by 0.3% during the third quarter. Vanguard Group Inc. now owns 4,427,022 shares of the biopharmaceutical company’s stock valued at $41,791,000 after buying an additional 13,190 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Avid Bioservices by 12.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,672,302 shares of the biopharmaceutical company’s stock worth $15,787,000 after acquiring an additional 184,930 shares during the period. Wellington Management Group LLP raised its position in shares of Avid Bioservices by 27.1% in the 4th quarter. Wellington Management Group LLP now owns 1,478,842 shares of the biopharmaceutical company’s stock worth $9,612,000 after acquiring an additional 315,600 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of Avid Bioservices by 15.1% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,186,639 shares of the biopharmaceutical company’s stock valued at $11,202,000 after purchasing an additional 155,817 shares during the period. Finally, AWM Investment Company Inc. boosted its position in shares of Avid Bioservices by 1.7% during the third quarter. AWM Investment Company Inc. now owns 999,926 shares of the biopharmaceutical company’s stock valued at $9,439,000 after purchasing an additional 17,100 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors.

About Avid Bioservices

Avid Bioservices, Inc, a contract development and manufacturing organization, provides process development and current good manufacturing practices (CGMP) clinical and commercial manufacturing services of biologics for the biotechnology and biopharmaceutical industries. The company offers various services, including clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support.