Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green Sells 75,000 Shares

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 75,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $12.31, for a total transaction of $923,250.00. Following the completion of the sale, the chief executive officer now directly owns 151,653 shares in the company, valued at approximately $1,866,848.43. This trade represents a 33.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 transaction of $1,783,032.42.
• On Monday, December 23rd, Nicholas Stewart Green sold 100,000 shares of Avid Bioservices stock. The shares were sold at an average price of $12.28, for a total value of $1,228,000.00.
• 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 Stock Performance

NASDAQ:CDMO opened at $12.24 on Friday. The company has a 50-day moving average of $11.75 and a 200-day moving average of $10.40. The firm has a market cap of $782.91 million, a price-to-earnings 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. Avid Bioservices, Inc. has a twelve month low of $5.65 and a twelve month high of $12.48.

Wall Street Analyst Weigh In

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

Institutional Trading of Avid Bioservices

Large investors have recently added to or reduced their stakes in the business. Royce & Associates LP increased its holdings in shares of Avid Bioservices by 7.8% in the third quarter. Royce & Associates LP now owns 789,227 shares of the biopharmaceutical company’s stock valued at $8,981,000 after buying an additional 57,111 shares in the last quarter. Emerald Advisers LLC acquired a new position in shares of Avid Bioservices in the 3rd quarter worth $16,489,000. GSA Capital Partners LLP raised its position in shares of Avid Bioservices by 97.3% during the third quarter. GSA Capital Partners LLP now owns 153,070 shares of the biopharmaceutical company’s stock worth $1,742,000 after purchasing an additional 75,473 shares during the period. Phocas Financial Corp. purchased a new stake in shares of Avid Bioservices during the third quarter valued at $2,107,000. Finally, Fisher Asset Management LLC boosted its position in shares of Avid Bioservices by 63.3% in the 3rd quarter. Fisher Asset Management LLC now owns 401,081 shares of the biopharmaceutical company’s stock valued at $4,564,000 after purchasing an additional 155,419 shares during the period. 97.16% of the stock is currently owned by institutional investors.

Avid Bioservices Company Profile

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.