Daniel R. Hart Sells 5,000 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO) Stock

Avid Bioservices, Inc. (NASDAQ:CDMO – Get Rating) CFO Daniel R. Hart sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $19.00, for a total value of $95,000.00. Following the sale, the chief financial officer now directly owns 46,957 shares in the company, valued at approximately $892,183. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Avid Bioservices Stock Down 2.1 %

Shares of NASDAQ:CDMO opened at $17.80 on Friday. The firm has a market cap of $1.11 billion, a P/E ratio of 10.72 and a beta of 1.76. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.77. Avid Bioservices, Inc. has a 12-month low of $11.30 and a 12-month high of $22.38. The business has a fifty day simple moving average of $16.30 and a 200 day simple moving average of $15.99.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Lakewood Asset Management LLC bought a new position in shares of Avid Bioservices in the 4th quarter worth about $35,000. US Bancorp DE bought a new position in shares of Avid Bioservices in the 1st quarter worth about $76,000. Captrust Financial Advisors raised its position in shares of Avid Bioservices by 170.6% in the 2nd quarter. Captrust Financial Advisors now owns 7,629 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 4,810 shares in the last quarter. LPL Financial LLC bought a new position in shares of Avid Bioservices in the 4th quarter worth about $142,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Avid Bioservices by 155.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the biopharmaceutical company’s stock worth $148,000 after acquiring an additional 4,741 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CDMO has been the topic of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Avid Bioservices in a report on Tuesday, March 14th. StockNews.com raised Avid Bioservices to a “sell” rating in a research report on Wednesday, December 7th. Stephens reaffirmed an “overweight” rating and set a $22.00 target price on shares of Avid Bioservices in a research report on Tuesday, March 14th. Finally, Craig Hallum lowered their target price on Avid Bioservices from $30.00 to $25.00 in a research report on Wednesday, December 7th.

Avid Bioservices Company Profile

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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.