Avid Bioservices, Inc. (NASDAQ:CDMO – Get Free Report) CEO Nicholas Stewart Green sold 17,173 shares of Avid Bioservices stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $10.05, for a total transaction of $172,588.65. Following the transaction, the chief executive officer now owns 226,653 shares in the company, valued at approximately $2,277,862.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Avid Bioservices Stock Performance
Shares of NASDAQ CDMO opened at $10.32 on Friday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.05 and a current ratio of 1.46. The company has a market cap of $658.31 million, a P/E ratio of -4.55 and a beta of 1.38. The firm’s fifty day moving average is $10.66 and its two-hundred day moving average is $8.87. Avid Bioservices, Inc. has a 52-week low of $4.07 and a 52-week high of $12.48.
Avid Bioservices (NASDAQ:CDMO – Get Free Report) last posted its earnings results on Monday, September 9th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Avid Bioservices had a negative net margin of 101.26% and a negative return on equity of 16.53%. The firm had revenue of $40.17 million for the quarter, compared to the consensus estimate of $39.50 million. As a group, analysts anticipate that Avid Bioservices, Inc. will post -0.29 EPS for the current fiscal year.
Institutional Trading of Avid Bioservices
Analysts Set New Price Targets
A number of research firms recently weighed in on CDMO. Royal Bank of Canada lifted their target price on shares of Avid Bioservices from $8.00 to $12.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. StockNews.com upgraded shares of Avid Bioservices to a “sell” rating in a report on Tuesday, September 10th. Stephens reiterated an “overweight” rating and issued a $12.00 price target on shares of Avid Bioservices in a report on Tuesday, September 10th. Finally, William Blair reiterated a “market perform” rating on shares of Avid Bioservices in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Avid Bioservices presently has an average rating of “Moderate Buy” and an average price target of $13.50.
Read Our Latest Report on Avid Bioservices
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.
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