Kennedy Capital Management LLC lowered its holdings in shares of Avid Bioservices, Inc. (NASDAQ:CDMO – Free Report) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 358,744 shares of the biopharmaceutical company’s stock after selling 22,535 shares during the quarter. Kennedy Capital Management LLC owned about 0.57% of Avid Bioservices worth $3,387,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Avid Bioservices during the 1st quarter valued at $29,000. Pinebridge Investments L.P. bought a new position in shares of Avid Bioservices during the 2nd quarter valued at $31,000. US Bancorp DE bought a new position in shares of Avid Bioservices during the 1st quarter valued at $76,000. State of Wyoming raised its holdings in Avid Bioservices by 34.9% in the 2nd quarter. State of Wyoming now owns 3,864 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 999 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Avid Bioservices by 117.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,109 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 3,300 shares during the period.
Insiders Place Their Bets
In other Avid Bioservices news, Director Richard B. Hancock bought 23,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $5.86 per share, for a total transaction of $134,780.00. Following the transaction, the director now owns 78,760 shares in the company, valued at $461,533.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 5,083 shares of company stock worth $31,527 in the last ninety days. Insiders own 2.39% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on Avid Bioservices
Avid Bioservices Stock Up 10.0 %
NASDAQ CDMO opened at $6.71 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.85 and a current ratio of 1.35. The company’s fifty day moving average is $6.94 and its two-hundred day moving average is $7.51. Avid Bioservices, Inc. has a 52-week low of $4.07 and a 52-week high of $21.05.
Avid Bioservices (NASDAQ:CDMO – Get Free Report) last posted its quarterly earnings results on Thursday, December 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The company had revenue of $25.40 million during the quarter, compared to analyst estimates of $33.55 million. Avid Bioservices had a negative return on equity of 5.18% and a negative net margin of 8.12%. On average, sell-side analysts anticipate that Avid Bioservices, Inc. will post -0.06 earnings per share for the current year.
Avid Bioservices Profile
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.
Featured Articles
- Five stocks we like better than Avid Bioservices
- Which Wall Street Analysts are the Most Accurate?
- What is a Microcap Stock? Everything You Need to Know
- How to Effectively Use the MarketBeat Ratings Screener
- How to Invest in Casino Stocks: Pros and Cons and More
- Industrial Products Stocks Investing
- How to Invest in Cannabis in 8 Easy Steps
Receive News & Ratings for Avid Bioservices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Bioservices and related companies with MarketBeat.com's FREE daily email newsletter.