Nicholas Stewart Green Sells 100,000 Shares of Avid Bioservices, Inc. (NASDAQ:CDMO) Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 100,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $12.28, for a total value of $1,228,000.00. Following the transaction, the chief executive officer now owns 51,653 shares of the company’s stock, valued at approximately $634,298.84. This represents a 65.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 value of $1,783,032.42.
• On Friday, December 20th, Nicholas Stewart Green sold 75,000 shares of Avid Bioservices stock. The stock was sold at an average price of $12.31, for a total value of $923,250.00.
• 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 Trading Down 0.3 %

NASDAQ:CDMO opened at $12.24 on Friday. The firm has a market cap of $782.91 million, a PE ratio of -5.12 and a beta of 1.44. The stock has a fifty day moving average price of $11.75 and a 200 day moving average price of $10.38. Avid Bioservices, Inc. has a 12-month low of $5.65 and a 12-month high of $12.48. The company has a current ratio of 1.30, a quick ratio of 1.05 and a debt-to-equity ratio of 3.58.

Analyst Ratings Changes

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

Institutional Trading of Avid Bioservices

Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in Avid Bioservices during the 2nd quarter worth about $38,000. Quest Partners LLC purchased a new stake in Avid Bioservices during the 3rd quarter worth about $38,000. Point72 DIFC Ltd purchased a new stake in Avid Bioservices during the 2nd quarter worth about $57,000. Principal Financial Group Inc. purchased a new stake in Avid Bioservices during the 2nd quarter worth about $80,000. Finally, TradeLink Capital LLC purchased a new stake in Avid Bioservices during the 2nd quarter worth about $92,000. 97.16% of the stock is owned by hedge funds and other institutional investors.

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.