Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Sells $1,228,000.00 in Stock

Avid Bioservices, Inc. (NASDAQ:CDMO) CEO Nicholas Stewart Green sold 100,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 51,653 shares of the company’s stock, valued at $634,298.84. This represents a 65.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 shares were sold at an average price of $12.31, for a total transaction 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 transaction of $172,588.65.

Avid Bioservices Price Performance

Shares of Avid Bioservices stock opened at $12.24 on Friday. The stock has a market cap of $782.91 million, a P/E ratio of -5.12 and a beta of 1.44. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.05 and a current ratio of 1.30. The stock’s fifty day moving average is $11.75 and its 200 day moving average is $10.40. Avid Bioservices, Inc. has a one year low of $5.65 and a one year high of $12.48.

Analyst Ratings Changes

CDMO has been the topic of several research reports. StockNews.com upgraded shares of Avid Bioservices to a “sell” rating in a report on Tuesday, September 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $12.50 price objective (up previously from $12.00) on shares of Avid Bioservices in a report on Thursday, November 7th. Stephens downgraded Avid Bioservices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Craig Hallum cut Avid Bioservices from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, William Blair reiterated a “market perform” rating on shares of Avid Bioservices in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Avid Bioservices currently has an average rating of “Hold” and a consensus target price of $12.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new position in shares of Avid Bioservices during the 3rd quarter valued at approximately $38,000. Meeder Asset Management Inc. purchased a new position in Avid Bioservices during the second quarter valued at approximately $38,000. Point72 DIFC Ltd bought a new position in shares of Avid Bioservices in the second quarter worth approximately $57,000. Principal Financial Group Inc. purchased a new stake in shares of Avid Bioservices in the second quarter worth $80,000. Finally, TradeLink Capital LLC bought a new stake in shares of Avid Bioservices during the 2nd quarter valued at $92,000. Institutional investors own 97.16% of the company’s stock.

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.