Avid Bioservices, Inc. (NASDAQ:CDMO) CFO Sells $20,912.40 in Stock

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

Avid Bioservices Stock Up 0.6 %

NASDAQ CDMO opened at $8.25 on Friday. The firm’s 50 day moving average price is $7.03 and its 200-day moving average price is $6.52. The company has a current ratio of 0.46, a quick ratio of 0.31 and a debt-to-equity ratio of 0.04. Avid Bioservices, Inc. has a 52-week low of $4.07 and a 52-week high of $18.86.

Analyst Ratings Changes

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

Institutional Trading of Avid Bioservices

A number of hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in Avid Bioservices by 3,125.0% in the fourth quarter. CWM LLC now owns 6,708 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 6,500 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Avid Bioservices in the 1st quarter worth approximately $46,000. Advisor Partners II LLC bought a new position in shares of Avid Bioservices during the 3rd quarter worth approximately $98,000. Oxford Asset Management LLP purchased a new stake in Avid Bioservices during the fourth quarter valued at approximately $68,000. Finally, Evoke Wealth LLC acquired a new stake in Avid Bioservices in the fourth quarter valued at approximately $125,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.

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.